Silver Tests Resistance At $23.20 While Gold Moves Towards $1830

Silver ETF Stays Near Weekly Highs

Silver is currently trying to settle above the resistance at $23.20 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust continues its attempts to settle above $21.50.

The U.S. Dollar Index is testing the support at 95.40. In case the U.S. Dollar Index manages to settle below this support level, it will head towards the next support at 95.20 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold is testing the resistance level at $1830 while SPDR Gold Trust  is moving towards the $171 level. In case gold manages to settle above $1830, it will head towards the next resistance level at $1845 which will be bullish for silver.

Gold/silver ratio tested the support at the 50 EMA at 78.45 but failed to develop sufficient downside momentum and rebounded towards the 20 EMA at 78.90. In case gold/silver ratio settles above the 20 EMA, it will gain upside momentum and head towards the resistance at 79.50 which will be bearish for silver.

Technical Analysis

silver february 9 2022

Silver is testing the resistance level at $23.20. If this test is successful, silver will move towards the next resistance which is located at $23.50.

A move above $23.50 will push silver towards the resistance level at $23.70. In case silver manages to settle above $23.70, it will head towards the next resistance at $24.00.

On the support side, the nearest support level for silver is located at the 50 EMA at $23.10. If silver declines below this level, it will get to the test of the next support at the 20 EMA at $23.00.

A successful test of the support at the 20 EMA will open the way to the test of the support level at $22.80. A move below $22.80 will push silver towards the next support level which is located at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Resistance At $23.10

Silver ETF Tries To Gain More Ground

Silver is currently trying to settle above the 50 EMA at $23.10 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to get above its 50 EMA near $21.35.

The U.S. Dollar Index has recently made an attempt to settle above the resistance at the 50 EMA at 95.75 but failed to develop sufficient upside momentum and pulled back. In case the U.S. Dollar Index manages to settle above this level, it will head towards the next resistance at the 20 EMA at 95.90 which will be bearish for silver and gold price today.

Gold managed to settle above the resistance at $1815 and is moving towards the next resistance level at $1830 while SPDR Gold Trust is testing the $170 level. In case gold gets to the test of the resistance at $1830, silver will get more support.

Gold/silver ratio made an attempt to settle above 79.50 but lost momentum and pulled back towards the 79 level. In case gold/silver ratio declines below the 20 EMA which is located near the 79 level, it will gain additional downside momentum and move towards the 50 EMA at 78.45 which will be bullish for silver.

Technical Analysis

silver february 8 2022

Silver is testing the resistance at the 50 EMA at $23.10. If silver gets above the 50 EMA, it will head towards the next resistance level which is located at $23.20.

A move above the resistance at $23.20 will push silver towards the next resistance level at $23.50. In case silver manages to settle above this level, it will head towards the resistance at $23.70. A successful test of the resistance at $23.70 will open the way to the test of the resistance at $24.00.

On the support side, the previous resistance at the 20 EMA near $23.00 will serve as the first support level for silver. A move below the 20 EMA will push silver towards the support level at $22.80. If silver declines below this level, it will head towards the next support level at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Resistance At $22.95

Silver ETF Rallies At The Start Of The Week

Silver is currently trying to settle above the resistance at the 20 EMA at $22.95 while U.S. dollar is mostly flat against a broad basket of currencies. Meanwhile, iShares Silver Trust made an attempt to get above its 20 EMA at $21.20.

The U.S. Dollar Index failed to settle above 95.50 and pulled back towards the nearest support level at 95.40. In case the U.S. Dollar Index manages to settle below this level, it will move towards the next support level at 95.20 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold is currently testing the resistance level at $1815 while SPDR Gold Trust is trying to get above the $169.50 level. In case gold settles above $1815, it will gain additional upside momentum and head towards the resistance level at $1830 which will be bullish for silver.

Gold/silver ratio pulled back below the 80 level and is trying to settle below 79.50. In case this attempt is successful, gold/silver ratio will head towards the 20 EMA at 78.95 which will be bullish for silver.

Technical Analysis

silver february 7 2022

Silver is testing the nearest resistance level at the 20 EMA at $22.95. If silver manages to settle above this level, it will move towards the 50 EMA which is located near $23.05.

A move above the resistance at the 50 EMA will open the way to the test of the resistance at $23.20. If silver gets above this level, it will continue its upside move and head towards the resistance at $23.50.

On the support side, the previous resistance at $22.80 will serve as the first support level for silver. A move below this level will push silver towards the next support at $22.60. In case silver manages to settle below the support at $22.60, it will head towards the support level which is located at $22.30.

For a look at all of today’s economic events, check out our economic calendar.

Silver Gains Some Ground Ahead Of The Weekend

Silver ETF Remains Volatile

Silver has recently made another attempt to settle below the support level at $22.30 but failed to develop sufficient downside momentum while U.S. dollar gained some ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trading near the $20.80 level.

The U.S. Dollar Index received support near 95.25 and moved back above the resistance level at 95.40. In case the U.S. Dollar Index manages to settle above this level, it will head towards the next resistance near the 50 EMA at 95.75 which will be bearish for silver and gold price today. Stronger dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Gold tested the resistance at $1815 but lost momentum and declined towards the $1800 level while SPDR Gold Trust traded close to the $168.50 level. If gold settles below the support level at $1800, it will move towards the next support level at $1785 which will be bearish for silver.

Gold/silver ratio faced resistance near the 81 level and pulled back towards 80.50. A move below this level will open the way to the test of the 80 level which will be bullish for silver.

Technical Analysis

silver february 4 2022

Silver is currently moving towards the resistance level at $22.60. In case silver manages to settle above this level, it will head towards the resistance at $22.80.

A move above $22.80 will open the way to the test of the next resistance level which is located at the 20 EMA at $22.95. If silver climbs above the 20 EMA, it will head towards the next resistance at the 50 EMA at $23.10.

On the support side, the nearest support level for silver is located at $22.30. If silver declines below this level, it will move towards the next support level at $22.10.

A successful test of the support at $22.10 will push silver towards the support at $21.90. In case silver gets below the support at $21.90, it will head towards the next support level which is located at $21.70.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Support At $22.10

Silver ETF Declines Despite Weaker Dollar

Silver is currently trying to settle below the support at $22.10 while U.S. dollar is under pressure against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle below $20.50.

The U.S. Dollar Index managed to settle below the support level at 95.75 and is moving towards the next support at 95.40. In case the U.S. Dollar Index declines below this level, it will head towards the support at 95.20 which may provide some support to silver and gold price today.

Gold faced resistance near the 50 EMA at $1810 and pulled back below the $1800 level while SPDR Gold Trust moved towards the $167 level. In case gold manages to settle back below $1800, it will gain downside momentum and head towards the support level at $1785 which will be bearish for silver.

Gold/silver ratio managed to settle above the psychologically important 80 level and is trying to settle above 81. In case this attempt is successful, gold/silver ratio will head towards the 82 level which will be bearish for silver.

Technical Analysis

silver february 3 2022

Silver settled below the support at $22.30 and is trying to settle below the next support level at $22.10. In case silver manages to settle below this level, it will head towards the next support level which is located at $21.90.

A move below the support at $21.90 will push silver towards the support at $21.70. If silver gets below this level, it will head towards the support which is located near December lows at $21.50.

On the upside, silver needs to stay above $22.10 to have a chance to gain upside momentum in the near term. The previous support level at $22.30 will serve as the first resistance level for silver. If silver gets above this level, it will head towards the resistance at $22.60. A successful test of the resistance at $22.60 will push silver towards the resistance at $22.80.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Support At $22.60

Silver ETF Pulls Back While Gold Remains Stuck Near The $1800 Level

Silver is currently trying to settle back below the support at $22.60 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is testing the support at $20.80.

The U.S. Dollar Index managed to settle below the support at 96.25 and is trying to settle below the next support level which is located at 96. In case this attempt is successful, the U.S. Dollar Index will get to the test of the next support at 95.75 which will be bullish for silver and gold price today.

Gold has recently made an attempt to settle below the $1800 level but failed to develop sufficient upside momentum while SPDR Gold Trust moved closer to the $168 level. If gold manages to stay above $1800, it will move towards the nearest resistance level at $1815 which will be bullish for silver.

Gold/silver ratio has recently climbed back above the 80 level. If gold/silver ratio manages to settle above this level, it will head towards the recent highs near 80.40 which will be bearish for silver.

Technical Analysis

silver february 2 2022

Silver is testing the support level at $22.60. In case this test is successful, silver will move towards the next support level which is located at $22.30.

A move below the support at $22.30 will push silver towards the next support near the recent lows at $22.10. If silver declines below this level, it will head towards the support at $21.90.

On the upside, the nearest resistance level for silver is located at $22.80. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

If silver settles back above the resistance at $22.80, it will move towards the 20 EMA at $23.10. The 50 EMA is located in the nearby, while the next resistance level is at $23.20, so silver should face strong resistance in the $23.10 – $23.20 area. A move above this area will open the way to the test of the next resistance level at $23.50.

For a look at all of today’s economic events, check out our economic calendar.

Silver Rallies As Dollar Moves Lower

Silver ETF Gains Ground While Gold Gets Back Above $1800

Silver is currently trying to settle above the resistance at $22.80 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to get above $21.20.

The U.S. Dollar Index managed to settle below the support at 96.50 and is testing the next support level at 96.25. In case this test is successful, the U.S. Dollar Index will move towards the support at the 96 level which will be bullish for silver and gold price today.

Gold settled back above the $1800 level and tested the resistance at the 50 EMA near $1810 while SPDR Gold Trust moved towards $168.50. In case gold gets above the 50 EMA, it will get to the test of the resistance at $1815 which will be bullish for silver.

Gold/silver ratio faced strong resistance near the 80 level and pulled back below the 79 level. If gold/silver ratio manages to settle below the nearest support level at 78.50, it will gain additional downside momentum and move towards the 50 EMA at 78.15 which will be bullish for silver.

Technical Analysis

silver february 1 2022

Silver is currently testing the resistance level at $22.80. In case silver manages to settle above this level, it will move towards the next resistance which is located at $23.10.

A move above this level will lead to the test of the 50 EMA at $23.15. The 20 EMA is located in the same area, and it looks that silver may face material resistance in the $23.10 – $23.20 range. In case silver moves above this range, it will gain additional upside momentum and head towards the next resistance at $23.50.

On the support side, the nearest support level for silver is located at $22.60. If silver declines below this level, it will head towards the next support at $22.30. A successful test of this level will open the way to the test of the next support level at $22.10.

For a look at all of today’s economic events, check out our economic calendar.

Silver Moves Higher While Gold Tests Resistance At $1800

Silver ETF Gains Ground As Dollar Declines

Silver is currently trying to settle back above the resistance at $22.60 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle back above $20.80.

The U.S. Dollar Index has recently managed to get below the 97 level and is trying to gain additional downside momentum. In case this attempt is successful, the U.S. Dollar Index will move towards the next support level at 96.70 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold has recently made an attempt to settle back above the $1800 level while SPDR Gold Trust tested the $168 level. In case gold settles above $1800, it will gain additional upside momentum and head towards the resistance at $1815 which will be bullish for silver.

Gold/silver ratio continues its attempts to settle above the psychologically important 80 level. In case gold/silver ratio settles above 80, it will gain additional upside momentum which will be bearish for silver.

Technical Analysis

silver january 31 2022

Silver failed to settle below the support at $22.30 and tested the resistance at $22.60. In case silver manages to settle back above $22.60, it will move towards the next resistance level which is located at $22.80. A move above the resistance at $22.80 will open the way to the test of the resistance at $23.10.

On the support side, silver needs to settle below the support level at $22.30 to have a chance to gain downside momentum in the near term. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

If silver declines below the support at $22.30, it will move towards the next support at $22.10. A successful test of this support level will push silver towards $21.90. In case silver settles below $21.90, it will continue its downside move and head towards the support level which is located at $21.70.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Support At $22.30

Silver ETF Moves Lower Ahead Of The Weekend

Silver is currently trying to settle below the support level at $22.30 while U.S. dollar is mostly flat against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle below $20.70.

The U.S. Dollar Index is currently trying to get back above 97.25. In case this attempt is successful, the U.S. Dollar Index will move towards the nearest resistance at 97.45 which will be bearish for silver and gold price today. Strong dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Gold managed to settle below the support at $1800 and is testing the next support level at $1785 while SPDR Gold Trust is trying to get below $166.50. In case gold manages to settle below $1785, it will get to the test of the next support level at $1775 which will be bearish for silver.

Gold/silver ratio settled above the 79 level and is testing the resistance at 79.50. A successful test of this level will push gold/silver ratio towards the psychologically important 80 level which will be bearish for silver.

Technical Analysis

silver january 28 2022

Silver is testing the support level at $22.30. RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case silver manages to settle below the support at $22.30, it will head towards the next support level at $22.10. A move below this level will push silver towards the support at $21.90. If silver declines below $21.90, it will move towards the next support at $21.70.

On the upside, the previous support level at $22.60 will serve as the first resistance level for silver. In case silver gets back above this level, it will move towards the resistance which is located at $22.80. A successful test of the resistance at $22.80 will open the way to the test of the next resistance at $23.10.

For a look at all of today’s economic events, check out our economic calendar.

Silver Is Under Strong Pressure As Dollar Rallies To New Highs

Silver ETF Retreats After Hawkish Commentary From Jerome Powell

Silver is currently trying to settle below the support at $22.80 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust made an attempt to get below the $21 level.

The U.S. Dollar Index gained strong upside momentum after hawkish comments from Fed Chair Jerome Powell. It has already managed to get to above 2021 highs and is currently trying to settle above 97.25. In case this attempt is successful, the U.S. Dollar Index will move towards the resistance at 97.45 which will be bearish for silver and gold price today.

Gold settled below the support level at $1815 and testing the next support at $1800 while SPDR Gold Trust is trading in the $168 – $169 range. In case gold manages to settle below $1800, it will gain additional downside momentum and move towards the support at $1785 which will be bearish for silver.

Gold/silver ratio rallied after it managed to settle above the 50 EMA at the 78 level. Currently, gold/silver ratio is trying to get above the 79 level. In case this attempt is successful, gold/silver ratio will head towards the resistance at 79.50 which will be bearish for silver.

Technical Analysis

silver january 27 2022

Silver is testing the support level at $22.80. In case this test is successful, silver will move towards the next support level which is located at $22.60.

A move below the support at $22.60 will push silver towards the support at $22.30. If silver declines below this level, it will head towards the next support level which is located at $22.10.

On the upside, the nearest resistance level for silver is located at $23.10. In case silver climbs back above this level, it will move towards the resistance at the 50 EMA at $23.25.

A successful test of the resistance at the 50 EMA will lead to the test of the 20 EMA at $23.35. If silver manages to settle above this level, it will head towards the next resistance level at $23.50.

For a look at all of today’s economic events, check out our economic calendar.