Silver Price Forecast: XAG/USD jumps to near $59 as US Dollar declines
Hello fellow traders. In this technical article we're going to take a quick look at the Elliott Wave charts of Silver Commodity XAGUSD.
Gold and silver have lost the momentum generated by their recent rebounds, but sellers have yet to secure the decisive breakdown they are looking for. Gold's recovery stalled at 4202.87, while silver turned lower after reaching 63.25.
Silver Price Forecast: XAG/USD rebounds above $58.00 despite inflation fears
Silver prices tumbled as surging oil and hawkish Fed minutes lifted yields and the dollar. See the key support levels and updated silver outlook.
Silver Price Forecast: XAG extends lower low sequence, eyes on $55
Silver falls as Trump renews Iran threats, boosts US Dollar ahead of Fed Minutes
The silver market has struggled again during the trading session on Wednesday, as we continue to see a bit of trouble in this area, as rates climb, and uncertainty prevails.
Silver recently reversed from the resistance zone between the key resistance level 62.60 (former strong support from February and June), 20-day moving average and the 50% Fibonacci correction of the downward impulse from June.
Silver price today: Silver falls, according to FXStreet data
Silver Price Forecast: XAG/USD falls toward $58.00 as Trump declares Iran truce “finished”
Silver climbs above $60.00 despite US–Iran tensions, Fed minutes in focus