Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD (12; 26; 9) | Buy | Buy | Sell |
RSI (14) | Neutral | Sell | Neutral |
Stochastic (5; 3) | Neutral | Sell | Sell |
ADX (14) | Buy | Buy | Sell |
CCI (14) | Neutral | Sell | Sell |
AROON (14) | Buy | Buy | Buy |
Silver has been consolidating against the US Dollar within the symmetrical triangle pattern since the end of September. As apparent on the chart, the XAG/USD exchange rate is testing the lower pattern line.
Note that the exchange rate is pressured by the 55-, 100- and 200-hour moving averages, currently located in the 17.72/17.91 range. Thus, a breakout south could occur in the nearest future. However, note that the rate would have to surpass the support level - the Fibo 50.00% at 17.36.
If the given support level holds, it is likely that a reversal north could occur, and silver could extend gains against the Greenback. In this case the exchange rate could target the psychological level at 19.50.