| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
Silver has been depreciating against the US Dollar since the end of January. This movement has been bounded within the descending channel.
Currently, the XAG/USD exchange rate is testing the upper channel line at 17.80. From a theoretical point of view, it is likely that a reversal south could occur in the nearest future. Also, if the given channel holds, it is likely that Silver could continue to depreciate against the Greenback in the medium term.
However, note that the exchange rate is supported by the 55-period SMA (4H time-frame chart) near 17.75. Thus, a breakout north could occur, and the rate could re-test the Fibonacci 61.80% retracement at 18.17.