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Let’s Begin Silver (XAG/USD) Trading Today!; July 06, 2021


Let’s Begin Silver (XAG/USD) Trading Today!

Traders are well comfortable with gold trading but let us guide you for the Silver Trading as well. There is not any comparisons in metals like which one is better, Gold or Silver as they both are having unique characteristics. Here we are trying to make you aware regarding Silver trading only. Important to note here that silver is having high volatility and has a stronger relationship to economic activity. On the other side, Silver gets used in all kinds of industries too and is more affordable than gold. From electronics and medical applications, to batteries and solar panels, silver is everywhere, whether one can see it or not. This is the reason that silver is having high speculative behavior.

Technical View:

  • XAG/USD has started a new week on a positive note and is currently trading around $26.62 mark.
  • The pair made intraday high at $26.70 and low at $26.42 mark.
  • A day chart is bearish while H1 chart with triple EMA confirms up trend for the time being.
  • A sustained close above $26.67 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below$26.42 on H1 Chart will check further downside hurdles too.
SUPPORTS RESISTANCES
$26.42 $26.67
$26.34 $26.70
$26.31 $26.73
$26.24 $26.75
$26.17 $26.79

 

Take a look and do trade wisely!
Good Luck

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