Notification: Get Real-Time News Alerts For Your Portfolio Today
Powered by
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
BTC DOMINANCE 0.0%
ETH DOMINANCE 0.0%
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
Trading Articles
Search for the latest articles on trading

Silver price forecast: XAG/USD struggles near $30.40 area, seems vulnerable below 100-day SMA

admin
admin

admin

Full Bio

admin

Share

Silver prices (XAG/USD) are struggling to maintain momentum near the $30.40 mark, with recent price action suggesting vulnerability below the 100-day simple moving average (SMA). As market participants closely watch the precious metal’s performance, the current price level may signal a potential bearish shift in the near term.

The silver market is currently facing headwinds as prices hover near $30.40, a critical support area. A sustained move below this level could open the door for further declines, with the 100-day SMA acting as a pivotal resistance zone. Technical indicators suggest that if silver fails to recover above the SMA, a downward correction could unfold, pushing prices toward lower support levels.

Silver US Dollar 1-D Chart as of December 18th, 2024 (Source: TradingView)

Investors and analysts are watching closely for signs of price consolidation or a breakout, as silver continues to trade under pressure amid broader market developments. The metal’s ability to hold above $30.00 will likely determine its next direction, as traders assess key risk factors such as inflationary pressures and global economic trends.

Despite its appeal as a safe-haven asset, silver has faced challenges in maintaining upward momentum in recent weeks, with stronger-than-expected economic data weighing on investor sentiment. The metal’s price action could remain volatile, with price swings dependent on broader market risk appetite and global uncertainty.

Looking ahead, analysts remain cautious, with a focus on the upcoming economic data releases and potential shifts in monetary policy. Silver traders will be closely watching whether the metal can regain bullish momentum or if it succumbs to pressure below the key $30.00 level.

Subscribe to our Newsletter

Every week, we’ll send you the latest tips, tricks, reviews and advice on how to trade to a wealthier lifestyle

View more articles by

Related Articles

Read More
Read More
Read More
Read More
Read More
Read More

Brokers Review

No reviews found in this category.

Top Stories
GBPUSD (1)
GBP/USD trades with negative bias around 1.2425 area, US NFP report awaited
EURUSD (1)
EUR/USD weakens below 1.0400 as traders await US NFP release
NZDUSD
NZD/USD gains traction above 0.5650 ahead of US NFP release
USDINR (2)
USD/INR holds steady as traders brace for RBI rate decision
USDJPY (1)
Japanese Yen retreats against USD amid some repositioning ahead of US NFP
Stocks fluctuate as bond rally pauses ahead of volatile U.S
Stocks fluctuate as bond rally pauses ahead of volatile U.S. jobs report
Japanese household spending surges to highest level since 2022 amid wage growth
Japanese household spending surges to highest level since 2022 amid wage growth
Crude oil declines for the week as trade tariffs outweigh Iran supply risks
Crude oil declines for the week as trade tariffs outweigh Iran supply risks
Japanese yen climbs amid rate hike speculation as U.S
Japanese yen climbs amid rate hike speculation as U.S. jobs report approaches
Ethereum faces resistance near $2,817 as Pectra testnet launch nears
Ethereum faces resistance near $2,817 as Pectra testnet launch nears