XAG/USD drops to one-week low

  • XAG/USD trades in one week low as expected.
  • The level to beat for bears is the 17.25 support.

 

Silver four-hour chart 

 

Silver is dropping as expected while bears are about to challenge the 17.25 support level near the 100 SMA on the four-hour chart. As the market is losing steam and is trading in one week low, a break below the mentioned level can open the door to further losses towards the 16.75 and 16.10 level. On the other hand, resistance can emerge near the 17.75 level. 

 

  

 

Resistance: 17.75, 18.40, 18.80

Support: 17.25, 16.75, 16.10

 

 

Additional key levels