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28 Jan 2015
Silver stuck at 10-DMA
FXStreet (Mumbai) - Silver prices are stuck near the 10-DMA located at USD 18.04 levels, after having recovered from the low of USD 17.92 levels.
Doji Candle on daily charts
The metal has so far formed a Doji candle on the daily charts, as it trades largely unchanged for the day at USD 18.03/Oz levels. The indecisiveness indicated by the Doji candle comes ahead of the FOMC meet and the day after the metal failed to rise above the 200-DMA currently located at USD 18.16 levels. Moreover, the metal has failed on multiple occasions around USD 18.50 levels in the last week, after which it declined below the 200-DMA levels.
Silver Technical Levels
The immediate resistance is located at 18.04(10-DMA), above which the metal could extend gains to 18.16 (200-DMA) levels. Meanwhile, support is seen at 17.90 and 17.62 levels.
Doji Candle on daily charts
The metal has so far formed a Doji candle on the daily charts, as it trades largely unchanged for the day at USD 18.03/Oz levels. The indecisiveness indicated by the Doji candle comes ahead of the FOMC meet and the day after the metal failed to rise above the 200-DMA currently located at USD 18.16 levels. Moreover, the metal has failed on multiple occasions around USD 18.50 levels in the last week, after which it declined below the 200-DMA levels.
Silver Technical Levels
The immediate resistance is located at 18.04(10-DMA), above which the metal could extend gains to 18.16 (200-DMA) levels. Meanwhile, support is seen at 17.90 and 17.62 levels.