XAG/USD is on bearish market condition to be below 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for 14.26 support level to be crossed from above to below for the bearish trend to be continuing. And 13.96 is the next bearish target for November. By the way, the bullish key reversal level is 17.75 resistance, and if the price breaks this level from below to above so the reversal of the price movement from the primary bearish to the primary bullish will be started.
Anyway, 13.96 may be the real bearish target for Silver (XAG/USD) for the next two months for example.
- if the price breaks 14.26 support level on close weekly bar so the bearish trend will be continuing;
- if the price breaks 13.96 support level so we may see the bearish breakdown with S1 Pivot at 12.66 as the next bearish target;
- if not so the price will be moved within the channel.
| Resistance | Support |
|---|---|
| 16.34 | 14.26 |
| 17.75 | 13.96 |
| N/A | 12.66 |
