Silver bulls face wall of every day resistance round 24:00 – FXStreet

Advertisements
  • Silver is floating in a critical supply area on the daily chart.
  • The bulls are eyeing 24.00 while the bears are eyeing a correction back to test the 38.2% Fibo.

Silver prices have suddenly been chasing gold prices higher, but this is not fully explained, at least as far as gold’s fundamental gold rush goes. US Treasury yields have fallen from near two-year highs on 2-year and 10-year bonds.

As a result, the greenback is pulling back, which may explain some of the moves in precious metals, but the speed and distance that gold and silver have moved are outside of the average ranges we’ve seen recently. Nonetheless, silver has entered a supply area as follows:

XAG/USD daily chart

The price has reacted several times in the 24 area in the past, so the bulls are likely to have a hard time conquering it. As it stands, the 38.2% Fibonacci retracement level matches the previous day’s high, so this could be convincing support for the sessions to come.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception Stellar

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception

by Satavisa Pati January 1, 2022 You can invest in these top 10 altcoins...

By wpadminsonic164
‘Night Sky’ Ending Explained and All Your Questions Answered – CNET Stellar

‘Night Sky’ Ending Explained and All Your Questions Answered – CNET

Prime Videos night sky might not be the most high-octane of sci-fi thrillers, but...

By wpadminsonic164
RoboApe (RBA) dives in as DOGE and SHIB enlivened memecoins go to the divider – The Portugal News Stellar

RoboApe (RBA) dives in as DOGE and SHIB enlivened memecoins go to the divider – The Portugal News

Many people have high expectations for altcoins when the crypto markets turn bullish again....

By wpadminsonic164
Exchanging through a slump: Stock applications retool for the long stretch – Protocol Stellar

Exchanging through a slump: Stock applications retool for the long stretch – Protocol

Good morning, and welcome to Protocol Fintech. This Monday: the meme-stock reboot, UST-luna ripples,...

By wpadminsonic164
Stellar (XLM) Up 2.62% Tuesday: What’s Subsequent?  – Traders Observer Stellar

Stellar (XLM) Up 2.62% Tuesday: What’s Subsequent? – Traders Observer

Stellar (XLM) has been relatively less volatile compared to the crypto market. So far...

By wpadminsonic164
Bitcoin day to day diagram alert – Still caught in a cost downtrend – May 16 – Kitco NEWS Stellar

Bitcoin day to day diagram alert – Still caught in a cost downtrend – May 16 – Kitco NEWS

Editor's Note: With so much market volatility, stay on top of daily news! Get...

By wpadminsonic164
The Future Is Right here With These Blockchain Scalability Cash.  Quitriam Finance (QTM), Solana (SOL) and Stellar (XLM) – EconoTimes Stellar

The Future Is Right here With These Blockchain Scalability Cash. Quitriam Finance (QTM), Solana (SOL) and Stellar (XLM) – EconoTimes

With the growing number of cryptocurrencies on the market, it might be tough to...

By wpadminsonic164
Mushe (XMU), TRON (TRX), and Solana (SOL): Three Coins That Reserve Attention | Bitcoinist.com – Bitcoinist Stellar

Mushe (XMU), TRON (TRX), and Solana (SOL): Three Coins That Reserve Attention | Bitcoinist.com – Bitcoinist

Cryptocurrencies are constantly evolving, with new projects and technologies popping up all the time....

By wpadminsonic164

Latest Posts

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception Stellar

Prime 10 Altcoins to Watch Carefully in 2022 for Good Returns – Analytics Perception

by Satavisa Pati January 1, 2022 You can invest in these top 10 altcoins...

By wpadminsonic164
Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information Dogecoin

Dogecoin: A very good entry set off for DOGE bulls could be discovered at… – AMBCrypto Information

Disclaimer: The findings of the following analysis are the sole opinions of the writer...

By wpadminsonic164
Polkadot

Top 10 Cryptocurrencies With a Better Future Than Bitcoin – hackernoon.com

Cryptocurrencies gaining popularity due to their ability to provide smooth transaction payments in a...

By wpadminsonic164
‘Night Sky’ Ending Explained and All Your Questions Answered – CNET Stellar

‘Night Sky’ Ending Explained and All Your Questions Answered – CNET

Prime Videos night sky might not be the most high-octane of sci-fi thrillers, but...

By wpadminsonic164
Binance stops Luna and UST exchanging following implosion – TechCrunch Binance

Binance stops Luna and UST exchanging following implosion – TechCrunch

Binance, the world's largest cryptocurrency exchange, has halted the trading of Terraform Labs' Terra...

By wpadminsonic164
Cardano

Ethereum, Ripple, Binance Coin, Cardano, and Polygon – Cardano Feed

This week, we take a closer look at Ethereum, Ripple, Binance Coin, Cardano, and...

By wpadminsonic164
An altcoin now displays the pre-breakout patterns of Cardano, Algorand, and Bitcoin, says Crypto Analyst – The Every day Hodl Cardano

An altcoin now displays the pre-breakout patterns of Cardano, Algorand, and Bitcoin, says Crypto Analyst – The Every day Hodl

A popular crypto strategist says a decentralized financial altcoin mimics the patterns of other...

By wpadminsonic164
Cardano NFT Disruptor – EGO.COM Enters the Game – Digital Journal Cardano

Cardano NFT Disruptor – EGO.COM Enters the Game – Digital Journal

US/NY – May 24, 2022 — Led by a team of artists, art dealers,...

By wpadminsonic164