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18.05.202314:50 विदेशी मुद्रा विश्लेषण और समीक्षा: Technical analysis on Silver for May 18th, 2023.

Exchange Rates 18.05.2023 analysis

Green lines- bearish RSI divergence

Blue rectangle- support (broken)

Yellow rectangles- major tops with same overbought RSI conditions

Silver price is making new lower lows today around $23.36. In previous posts we warned that Silver was vulnerable to a decline towards $24.50 and lower when price was getting rejected at $26. Price has broken below the 38% Fibonacci retracement and is heading towards our next target at the 50% Fibonacci retracement level. On a daily basis the RSI has still not reached oversold conditions. We expect that downside pressures will continue and we should only expect short-term bounces. Next target is at $22.90.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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