Silver Daily Technical Analysis | 5 February 2018
2018-02-05 09:49 am | Resource: Technical Analysis Section | No Views : 314
Silver is trading in a bearish trend in formation, and the simple moving average is breaching negatively with the slow moving average, confirmed by the break of 17.07.
Momentum RSI 14 is trading in a bearish trend forming the break of the bullish trend line during Friday morning trading.
It is expected that, in the case of a break of 16.54 level silver may target areas of 15.78 6 on the other side, in the case of penetration of areas of 16.74 may target the level of 17.55.
Support: 17.35 - 16.84 -16.59
Resistance: 17.62 18.16- 18.78
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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