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26.07.202313:40 Analisis Forex & Kajian: Analysis of Silver for July 26,.2023 - Rejection of the resistance

Technical analysis:

Exchange Rates 26.07.2023 analysis

Silver has been trading upside this morning but I found rejection of the resistance at $24.66, which is good sign for the potential drop.

Due to the downside trend in the last few days and the rejection of the resistance, I see potential for the further drop towards lower reference.

Downside objectives are set at the price of $24.42 and $24.25

Stochastic oscillator is showing overbought condition and fresh downside cross, which is another good sign for the further downside movement.

Key resistance is set at the price of $24.66

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Petar Jacimovic,
Analytical expert of InstaSpot
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