Silver Daily Technical Analysis | 3 January 2018
2018-01-03 10:05 am | Resource: Technical Analysis Section | No Views : 412
Silver is trading in a bullish trend under formation, and the SMA is positively cross-moving and the slow moving average is confirmed.
Momentum RSI 14 signs of weakness started to appear as the index closed below the 70 areas during the Asian session this morning as the index is currently trying to break the rising trend line.
It is expected that in case of a break of 17.20 silver, the 17.62 area may be targeted on the other side, if the break of 17.03 zones might target the level of 16.52.
Support: 16.84 -16.25 - 16.25
Resistance: 17.35 - 17.62 - 18.16
Gold rose to trade above $ 1510 an ounce, following terrorist attacks in Saudi Arabia on the Aramco factories. On Saturday, drone attacks on Saudi Arabia's largest oil processing plant sharply raised world oil prices and reinstated the specter of retaliation. The United States has accused Iran of being behind drone attacks on Saudi oil facilities. Gold prices rose higher as further interest rate cuts were expected from the…
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