Silver trades below 19.00

Source: Dukascopy Bank SA


Since the last review of the price of silver in May, the commodity price has passed below the 2019 high level zone and the 19.00 level. Moreover, it has been spotted that since March 2022 the metal has been declining in a broad channel down pattern.

In regards to the near term future, note that throughout 2019 and 2020 the round price levels impacted the rate. Namely, the 18.00, 17.00 and 16.00 levels acted as support and resistance. These levels could act as support, as the commodity price declines in the borders of the channel down pattern.

On the other hand, any potential recovery of the price is expected to encounter resistance in the 19.00/19.50 zone and the 50-day simple moving average. Higher above, the upper trend line of the channel might stop an attempted recovery.
Back to articles

Actual Topics

Tue, 30 Aug 2022 09:57:33 GMT

USD/MXN respects support zone

In the aftermath of the July 29 review, the USD/MXN pair bounced off the 20.80 level and declined to the 2021 and early 2022 low level zone at 19.60/19.80, which has acted as support. Note that the rate had fluctuated below this zone in May. During the second part of August, the pair has been moving between the support zone

Mon, 29 Aug 2022 13:28:01 GMT

Natural Gas reaches 10.00 mark

The price for Natural Gas recently reached above the previous 2022 high level zone above 9.50 and reached the 10.00 mark, which has acted as resistance. Meanwhile, it has been spotted that the commodity price has been surging in a channel up pattern. A potential decline of the commodity price is expected to look for support in the 9.00 mark

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.