{"id":5362,"date":"2021-03-22T08:06:00","date_gmt":"2021-03-22T08:06:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=5362"},"modified":"2021-03-22T19:16:46","modified_gmt":"2021-03-22T19:16:46","slug":"silver-technical-analysis-24-90-is-the-key-level-to-watch","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/silver-technical-analysis-24-90-is-the-key-level-to-watch\/","title":{"rendered":"Silver Technical Analysis &#8211; $24.90 is the key level to watch"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5362\" class=\"elementor elementor-5362\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ec5ca4a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ec5ca4a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c1d1c6a\" data-id=\"c1d1c6a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d5c473f elementor-widget elementor-widget-text-editor\" data-id=\"d5c473f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\" rel=\"noopener\">Silver<\/a> is coming back under downside pressure in early-week trade as the <a href=\"https:\/\/bit.ly\/3eIXPz1\" target=\"_blank\" rel=\"noopener\">greenback<\/a> starts to gain strength and <a href=\"https:\/\/bit.ly\/2Qa0Ii1\" target=\"_blank\" rel=\"noopener\">US 10-year bond yields<\/a> hold close to the highs of 2021. Today\u2019s key speech from Federal Reserve Chairman Jerome Powell is likely to set the tone towards precious metals for the week.<\/p><p>Weakness in the price of gold is also weighing on silver at the moment. <a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">Gold<\/a> is likely to remain technically pressured while trading below the $1,760 resistance level this week and is vulnerable to further losses towards the $1,600 level.<\/p><p>The shiny-metal has reversed sharply from the $26.50 level over recent sessions, as bulls failed to overcome silver\u2019s 200-period moving average on the four-hour time frame. The implication is that silver remains bearish in the short-term while trading below the 200-period moving average.<\/p><p>In terms of technicals, the $24.90 level is the big level to watch this week. The $24.90 level is the location of a large head and shoulders pattern neckline, and the weekly Parabolic SAR indicator will turn bearish for the first-time since November last year if the price holds under the $24.90.<\/p><p>Furthermore, a drop under the $24.90 level is likely to see silver testing towards its trend-defining 200-day moving average, at $24.50. For the record, silver has traded above its 200-day moving average since May last year.<\/p><p>A series of bearish price patterns are also showing that silver is technically challenged below the $26.50 resistance zone. The targets of these bearish price patterns currently range from $22.00 to $20.00,<\/p><p>In summary, the next major directional moving is brewing. Silver is likely to come under significant short-term pressure if the $24.90 level is overcome this week, while gains above the $26.50 level will shift the short-term trend in favour of bulls.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-659c076 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"659c076\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22d4844\" data-id=\"22d4844\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-56cb302 elementor-widget elementor-widget-image\" data-id=\"56cb302\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"296\" height=\"106\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/SILVER-CHART-2.png\" class=\"attachment-large size-large wp-image-5365\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f33bdb3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f33bdb3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9f9c92\" data-id=\"c9f9c92\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1f7019 elementor-widget elementor-widget-text-editor\" data-id=\"f1f7019\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>According to the ActivTrader Market Sentiment tool traders have turned extremely bullish towards silver. Sentiment is around 87 percent positive, which is a significant one-way skew. I have serious concerns that silver prices will continue to fall as the herd are flocking to the long side in almost record numbers.<\/p><p><strong>Silver short-term Technical Analysis<\/strong><\/p><p>The short-term technicals for silver show the metal has fallen sharply after breaking below a rising wedge pattern this morning. According to the size of the pattern silver could be headed back towards the worst levels of the month.<\/p><p>The recent heavy rejection from the 200-period moving average on the four-hour time frame last week is also a concern in the short-term.<\/p><p>Aggressive selling took place as bears started to pile in as silver moved back towards the 200-period MA, and the price has now fallen below all key forms of support on the Ichimoku indicator.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4a7b656 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a7b656\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d3095ad\" data-id=\"d3095ad\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-00eb393 elementor-widget elementor-widget-image\" data-id=\"00eb393\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"345\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/silver-4h-1.png\" class=\"attachment-large size-large wp-image-5366\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-99a0d24 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"99a0d24\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6b2f549\" data-id=\"6b2f549\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d48c484 elementor-widget elementor-widget-text-editor\" data-id=\"d48c484\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0d7fb0c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0d7fb0c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7e13fef\" data-id=\"7e13fef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1927f8d elementor-widget elementor-widget-text-editor\" data-id=\"1927f8d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Silver Medium-term Technical Analysis<\/strong><\/p><p>According to the daily time frame bulls need defend the $24.50 to $24.90 area this week to avoid a technical meltdown over the medium-term horizon.<\/p><p>A bearish head and shoulders pattern, with a downside projection of over $5.00 is currently looming over the price of silver. A sustained decline below the $24.90 support level is needed to activate this huge bearish pattern.<\/p><p>Traders also need to keep an eye on silvers 200-day moving average this week, around the $24.50 support area. A move under this key technical metric would be huge for bears.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b2569f9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2569f9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f713541\" data-id=\"f713541\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-194652b elementor-widget elementor-widget-image\" data-id=\"194652b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/silver-1d-1.png\" class=\"attachment-large size-large wp-image-5367\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d768378 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d768378\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-779885f\" data-id=\"779885f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a96f541 elementor-widget elementor-widget-text-editor\" data-id=\"a96f541\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Silver is coming back under downside pressure in early-week trade as the greenback starts to gain strength and US 10-year bond yields hold close to the highs of 2021. Today\u2019s key speech from Federal Reserve Chairman Jerome Powell is likely to set the tone towards precious metals for the week. Weakness in the price of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":5363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,9],"tags":[42,28,43,49,67,71],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Silver Technical Analysis - $24.90 is the key level to watch - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/silver-technical-analysis-24-90-is-the-key-level-to-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Technical Analysis - $24.90 is the key level to watch\" \/>\n<meta property=\"og:description\" content=\"Silver is coming back under downside pressure in early-week trade as the greenback starts to gain strength and US 10-year bond yields hold close to the highs of 2021. Today\u2019s key speech from Federal Reserve Chairman Jerome Powell is likely to set the tone towards precious metals for the week. Weakness in the price of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/silver-technical-analysis-24-90-is-the-key-level-to-watch\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-22T08:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-22T19:16:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/03\/GettyImages-1283221643.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"485\" \/>\n\t<meta property=\"og:image:height\" content=\"309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/silver-technical-analysis-24-90-is-the-key-level-to-watch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/silver-technical-analysis-24-90-is-the-key-level-to-watch\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Silver Technical Analysis &#8211; 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