SILVER PRICES, PALLADIUM OUTLOOK, XPD/USD, XAG/USD – TALKING POINTSXAG/USD, XPD/USD broke key ranges, opening the door to bullish
SILVER PRICES, PALLADIUM OUTLOOK, XPD/USD, XAG/USD – TALKING POINTS
- XAG/USD, XPD/USD broke key ranges, opening the door to bullish resumption
- Palladium costs shattered crucial resistance and clocked in new all-time excessive
- Silver prices purpose to retest January excessive after month-long consolidation interval
SILVER PRICE OUTLOOK BULLISH
As forecasted, silver costs skilled their greatest one-day spike since September and broke out of a month-long, downward-sloping consolidation vary (white-dotted traces). This got here as XAG/USD was buying and selling in an ever-shrinking zone of indecision between assist at 17.440 and the higher ceiling of resistance. Silver could also be originally of what could possibly be one other bullish spike, however the path ahead is just not with out its bumps.
XAG/USD – Every day Chart
XAG/USD chart created utilizing TradingView
Regardless of XAG/USD’s rally, the dear metallic will now must face resistance at 18.390 (gold-dotted line) that marked the tip of its ascent from the prior bullish spike. Past that, silver costs could have then must clear acquainted however formidable resistance at 18.625 and the January 8-high at 18.853. Upside strain round these ranges might start to point out indicators of exhaustion and a subsequent pullback might ensue.
PALLADIUM PRICES REGISTER NEW HIGH
Palladium costs have once more clocked in new highs above $2,600 after…