News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here:
  • BoE’s Tenreyro says evidence on negative rates are “encouraging” Meanwhile, STOXX Europe Banks Index resides at all time lows
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • Anti-fiat #gold prices suffered the worst week since August as the US Dollar gained ground. Will losses extend? All eyes turn to fiscal stimulus hopes and non-farm payrolls data. Get your #metals update from @ddubrovskyFX here:
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • What is seasonal change in volatility. Are we going through one right now? Find out:
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out:
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here:
Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

2019-07-25 15:05:00
Mahmoud Alkudsi, Analyst

Silver Price Forecast

Did you check our latest forecasts on USD and Gold? Find out more for free from our Q3 forecasts for commodities and main currencies

Silver Price – Higher with lower pace

Yesterday, Silver price continued towards new multi-month high and climbed to $16.65 . However, today the precious metal has rebounded from the same level slowing down the current uptrend.

The Relative Strength Index (RSI) fell today from 79 to 73 indicating the buyers would need more momentum to keep rallying the price.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

SILVER DAILY PRICE CHART (MAy 1, 2017 – JUly 25, 2019) Zoomed out

Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

SiLVER DAILY PRICE CHART (JUN 4 – JULY 25, 2019) Zoomed In

Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

Looking at the daily chart we notice on Monday Silver returned back to the trading zone $16.25 – $16.83 and currently eyes a test of its high end. Hence, a close above the high end could push the price towards $17.24. Nonetheless, the resistance area highlighted on the chart (zoomed in) would be worth monitoring.

In turn, a failure in closing above the high end of the current trading zone may send the price towards the low end. See the chart to know more about the lower trading zone and the key support levels to be watched closely in a further bearish scenario.

Just getting started? See our Beginners’ Guide for FX traders

Silver Four-HOUR PRICE CHART (JULY 4 - JULY 25, 2019)

Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

Looking at the four-hour chart, we notice the starting uptrend on July 12 has slowed down significantly, drawing a flatter upward trendline and signaling loss of impulse.

Therefore, a break below $16.15 may press the price towards $16.00. However, the weekly support underlined on the chart should be monitored. See the chart to find out more about the next significant support levels where the selloff might stop.

On the other hand, a break above $16.79 may cause a rally towards $17.00. Although, the high end of the aforementioned trading zone needs to be kept in focus.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.