Vladimir Zernov
Add to Bookmarks

Silver Video 27.04.21.

Silver Tries To Gain More Ground

Silver is currently trying to settle above the resistance at $26.30 while the U.S. dollar is moving higher against a broad basket of currencies.

Know where Silver is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

The U.S. Dollar Index has recently made an attempt to settle above the resistance at 91 but failed to develop sufficient upside momentum and pulled back a bit. If silver manages to settle above the resistance at 91, it will move towards the resistance at 91.30 which will be bearish for silver and gold price today.

Gold is currently trying to get to the test of the resistance at the $1800 level. This resistance level has already been tested several times and proved its strength. If gold manages to settle above this level, it will head towards the resistance at $1820 which will be bullish for silver and other precious metals.

Gold/silver ratio settled below the 68 level and is testing the support at 67.50. A move below this level will open the way to the test of the major support at the 67 level which will be bullish for silver.


Technical Analysis

Silver is currently testing the resistance at $26.30. Silver has already made several attempts to settle above this level in recent trading sessions but was not able to develop sustainable upside momentum. A move above the resistance at $26.30 will open the way to the test of the next resistance at $26.65.

In case silver gets above $26.65, it will continue its upside move and head towards the resistance at $27.00. If silver settles above this level, it will head towards the next resistance at $27.50.

On the support side, the nearest support level for silver is located at the 50 EMA at $25.80. The 20 EMA is at the same level, and silver will likely receive strong support in the $25.75 – $25.85 area.

A move below this support area will push silver towards the support at $25.55. In case silver declines below $25.55, it will head towards the next support at $25.30.

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

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker