Midday update for Silver 26-05-2023

Economies.com
2023-05-26 09:16AM UTC

Silver price shows clear positive trades, to breach 23.00 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming breaching this level represents positive factor that will stop the recently suggested negative scenario and push the price to visit 23.70 level mainly.

 

The EMA50 continues to press negatively on the price to support the chances of continuing the bearish trend in the upcoming sessions, waiting to break 23.00 again to revive the bearish trend scenario that its next target located at 22.25.

 

The expected trading range for today is between 22.30 support and 23.10 resistance.

 

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold falls over 1% and marks weekly losses
2024-06-21 20:25PM UTC
Gold prices fell on Friday as the dollar gained ground against most major rivals, with the precious ...
Palladium News

Commodities

Palladium climbs to three-week high
2024-06-21 15:43PM UTC
Palladium prices rose on Friday with a 3% surge, hitting three-week highs and becoming the best ...
Oil News

Commodities

Oil approaches second weekly profits as demand improves
2024-06-21 14:52PM UTC
Oil futures were mostly flat on Friday but headed for the second weekly profit in a row amid signs ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 21-06-2024
2024-06-21 17:17PM UTC
Crude oil price shows more bearish bias to head towards testing the bullish channel’s support ...
Silver Analysis

Commodities

End of day silver price forecast update - 21-06-2024
2024-06-21 17:16PM UTC
Silver price broke 30.06$ level clearly and heads toward achieving more expected decline in the ...
Gold Analysis

Commodities

End of day gold price forecast update - 21-06-2024
2024-06-21 17:16PM UTC
Gold price faces clear negative pressure, as it broke 2340.10$ level and closed the last four ...