(VIANEWS) – Silver (SI) has been up by 9.24% for the last 10 sessions. At 16:52 EST on Thursday, 8 December, Silver (SI) is $23.28.
Silver price analysis: xag/usd builds cushion around 20-ema at $22.60
The flipside is that Silver prices will fall sharply if it surrenders its 200-EMA at $22.20. The Silver price has recovered steadily after it tested the horizontal support at $22.25, which was placed on November 15.
Today’s last reported volume for Silver is 43943, 99.99% below its average volume of 15366339175.08.
Silver’s last week, last month’s, and last quarter’s current intraday variation average was 4.83%, 1.21%, and 2.02%, respectively.
Silver’s highest amplitude of average volatility was 4.83% (last week), 2.06% (last month), and 2.02% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Silver’s commodity is considered to be overbought (>=80).
Previous days news about Silver (SI)
- Silver price analysis: weekly support line probes xag/usd bears above $23.00. According to FXStreet on Tuesday, 6 December, "Should the metal breaks immediate support, the 200-HMA level surrounding $21.90, could act as the last defense of the Silver bulls.", "To sum up, the Silver price remains sidelined between the 50-HMA and the 200-HMA but the odds favoring upside are higher."
- Silver price analysis: xag/usd justifies Tuesday’s bullish doji above $22.00. According to FXStreet on Wednesday, 7 December, "On the flip side, the 10-day EMA restricts the immediate downside of the Silver around the $22.00 round figure.", "However, a convergence of the 21-day EMA and the stated bullish channel’s lower line, around $21.60, appears a tough nut to crack for the Silver bears."
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