Silver price today: Silver rises, according to FXStreet data
Silver Price Forecast: XAG/USD edges lower below $70.00 as bearish bias holds under 100-day SMA
Silver is attempting to confirm a bullish reversal after reclaiming the 200-day moving average, with key support holding and upside targets emerging within the correction channel.
Silver rallied above its 200-day average after crude oil plunged, but fading momentum and the Fed meeting raise pullback risks.
Silver Price Forecast: XAG reclaims 200-day SMA as double bottom forms
The silver market jumped at the open on Monday, as traders continue to watch the potential for peace play out in the Middle East. At this point, the markets are waiting to see if a deal is reached on Friday.
Silver rallies as US Dollar slips on US-Iran framework, Fed decision looms
Silver bounces on Iran peace hopes as crude oil breaks lower, but the Fed meeting and 200-day MA now decide whether XAG buyers can extend the rally.
Silver jumped at the open on Friday, as potential short covering has hit the market. It makes a lot of sense, as there are potential headlines coming out of the Middle East that will influence interest rates.
Silver Price Forecasts: XAG/USD bulls eye $69.00 amid an improved market mood
Silver price today: Silver falls, according to FXStreet data
Financial markets staged a powerful relief rally after US President Donald Trump abruptly called off planned military strikes against Iran and declared that diplomatic discussions had reached the “highest level of Iranian leadership.” Trump later suggested that a peace agreement could be finalized as soon as this weekend, potentially leading to the reopening of the Strait of Hormuz and easing fears of a prolonged disruption to global energy supplies.