Alert! Silver technicals issue a "sell signal," and the battle for the 38 mark is imminent.
2025-08-15 15:14:15
Spot silver attracted bargain-hunting buying in the Asian market on Friday (August 15), halting the previous day's correction from the three-week high of $38.70-38.75. Although silver prices once again stood above the $38.00 mark in the past hour, they still lacked strong bullish momentum.
Silver prices are currently showing resilience below the 200-hour simple moving average (SMA) and rebounding from the lower limit of the nearly two-week rising channel. However, considering that the technical indicators on the hourly and daily charts are showing divergent signals, caution is still needed before establishing new long positions and betting on the continuation of the rebound in silver prices from the monthly low.
Therefore, any further upward movement in silver is likely to encounter strong resistance in the $38.20-38.25 area. However, a sustained break above this resistance level could push silver prices towards the intermediate resistance level of $38.50-38.55, potentially challenging the multi-week high near $38.75. If the momentum continues, bulls could reclaim the $39.00 mark.
On the downside, if silver prices fall below the $37.80 support, they may further test the key support level of the mid-$37.50 level and test the $37.00 mark. A sustained break below this level will provide new short signals for the bears, which may lead to a deep correction in spot silver and even a retest of the monthly low near $36.20.
At 15:10 Beijing time, spot silver was trading at $37.98 per ounce.
Silver prices are currently showing resilience below the 200-hour simple moving average (SMA) and rebounding from the lower limit of the nearly two-week rising channel. However, considering that the technical indicators on the hourly and daily charts are showing divergent signals, caution is still needed before establishing new long positions and betting on the continuation of the rebound in silver prices from the monthly low.
Therefore, any further upward movement in silver is likely to encounter strong resistance in the $38.20-38.25 area. However, a sustained break above this resistance level could push silver prices towards the intermediate resistance level of $38.50-38.55, potentially challenging the multi-week high near $38.75. If the momentum continues, bulls could reclaim the $39.00 mark.
On the downside, if silver prices fall below the $37.80 support, they may further test the key support level of the mid-$37.50 level and test the $37.00 mark. A sustained break below this level will provide new short signals for the bears, which may lead to a deep correction in spot silver and even a retest of the monthly low near $36.20.
At 15:10 Beijing time, spot silver was trading at $37.98 per ounce.
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