Morgan Stanley’s stock price (MS) extended its losses in the intraday levels, amid negative signals from the RSI, while seeking a bottom to bounce it higher anew, as it also gathers positive momentum, thus leaning on the support of the 50-day SMA, and also leaning on the upward secondary trend line in the short term.
Therefore we expect the stock to return higher, targeting the resistance of $142.00, provided the support of $127.66 holds on.
Platinum price approached the MA55 today by touching 962.00$ level, followed by noticing new rally towards the broken bullish channel’s support line at 979.00$, taking advantage of stochastic exit from the oversold areas.
Despite the major indicators’ attempt to provide the positive momentum, the stability below 983.00$ barrier until now will confirm the price affection by the instability situation, within chances to form more negative trades to target 950.00$ level.
The expected trading range for today is between 950.00$ and 980.00$
Silver price gains ground to near $32.70 in Monday’s Asian session, up 0.45% on the day.
The positive view of Silver prevails above the key 100-day EMA with the bullish RSI indicator.
The first upside barrier is seen at the $33.35-$33.40 region; the initial support level is located at $31.52.
Silver price (XAG/USD) drifts higher to around $32.70 during the Asian trading hours on Monday. The weakening of the US Dollar (USD) provides some support to the USD-denominated commodity price. Furthermore, the uncertainty and concerns over US President Donald Trump’s tariff plans might boost the safe-have flows, which contribute to Silver’s upside.
According to the daily chart, the bullish outlook of the white metal remains in place, with the price holding above the key 100-day Exponential Moving Average (EMA). The upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands above the midline near 64.40, suggesting the path of least resistance is to the upside.
The upper boundary of the Bollinger Band and the high of February 14 of $33.35-$33.40 act as an upside barrier for Silver price. Sustained trading above this level could expose $34.55, the high of October 29, 2024. Any follow-through buying above the mentioned level could see a rally to $34.87, the high of October 22, 2024.
On the flip side, the initial support level for XAG/USD emerges at $31.52, the low of February 12. Extended losses could see a drop to $30.90, the 100-day EMA. The next contention level is seen at $30.70, the lower limit of the Bollinger Band.
Silver price (XAG/USD) daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Brent oil price declined strongly in the previous sessions to surpass our waited target at 75.66$ and open the way to continue the decline on the intraday and short term basis, as it approaches our second waited target at 74.00$, noting that the price moves within the bearish channel that appears on the chart, which supports the chances of achieving more decline in the upcoming period.
Gold price loses momentum to around $2,925 in Monday’s early Asian session, losing 0.38% on the day.
Investors take profits from Gold after reaching the previous session’s record high.
Fears of a global trade war sparked by Trump might keep demand for the safe-haven elevated.
Gold price (XAU/USD) drifts lower to near $2,925 during the Asian trading hours on Monday. The precious metal eases from a record high on profit-taking. However, the uncertainty and concerns over US President Donald Trump’s tariff plans might cap the downside for Gold price.
The yellow metal faces some selling pressure after retreating from an all-time high of $2,954 last week. “It’s just a classical movement of new all-time highs and profit-taking… (but) the fundamentals for gold remain solid,” said Alex Ebkarian, chief operating officer at Allegiance Gold.
The uncertainties surrounding global economic growth and political instability have underscored investor appetite for bullion. Last week, Trump said that he will announce new tariffs within the next month, adding lumber and forest products to previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals.
“Ongoing trade tensions continue to stoke inflation and growth concerns, and therefore safe-haven interest in gold,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
On the other hand, Minutes of the Federal Reserve’s (Fed) January meeting released last week showed that Trump’s initial policy proposals had stoked concerns over rising inflation, reinforcing the Fed’s stance to hold off on further rate cuts. This, in turn, could lift the Greenback and weigh on the USD-denominated commodity price in the near term.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Despite platinum price attempt to face the negative pressures, the frequent consolidation below 983.00$ will increase the chances of activating the correctional bearish track on the near-term basis, to expect suffering more losses by crawling towards 950.00$
On the other hand, succeeding to jump above 983.00$ and providing positive close will allow the price to form some bullish waves, to achieve more gains by rallying towards 1000.00$ followed by reaching 61.8% Fibonacci correction level at 1017.00$.
The expected trading range for today is between 950.00$ and 983.00$
Silver retreats to $32.54 after failing to hold above key $33.00 level.
RSI signals mixed momentum, with downside risks if $32.00 support breaks.
Next resistance at $33.20, while key support lies at 100-day SMA near $31.12.
Silver’s price retreats on Friday and fails to capitalize on falling US yields. According to the 10-year T-note, yields tumbled almost eight basis points to 4.431% at the time of writing. The XAG/USD trades at $32.54, down 1.20%.
XAG/USD Price Forecast: Technical outlook
XAG/USD’s uptrend remains in place, but failure to end the day/week above $33.00 exacerbated Silver’s plunge. Bullish momentum has faded, as depicted by a Relative Strength Index (RSI), which gives mixed signals. The RSI is bullish, but the slope is aiming downwards.
Buyers must clear the February 20 high at $33.20 for a bullish continuation. Once done, further upside Is seen, with the next resistance being the February 14 peak at $33.39 ahead of the $34.00 figure.
Conversely, if XAG/USD drops below $32.00, this would exert downward pressure on the precious metal. the first support would be the 100-day Simple Moving Average (SM) at 31.12, followed by the 50-day SMA and the 200-day SMA, each at 30.70 and 30.46.
XAG/USD Price Chart – Daily
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Crude oil price continued to rise yesterday to reach 72.65$ areas, noting that holding above 72.30$ supports the chances of continuing the rise in the upcoming sessions, by when we take a deeper look at the chart, we find that the recent trades are confined within rising wedge pattern that its support line meets 72.30$, which means that breaking this level will push the price to return to the bearish track again.
Silver retreats to $32.54 after failing to hold above key $33.00 level.
RSI signals mixed momentum, with downside risks if $32.00 support breaks.
Next resistance at $33.20, while key support lies at 100-day SMA near $31.12.
Silver’s price retreats on Friday and fails to capitalize on falling US yields. According to the 10-year T-note, yields tumbled almost eight basis points to 4.431% at the time of writing. The XAG/USD trades at $32.54, down 1.20%.
XAG/USD Price Forecast: Technical outlook
XAG/USD’s uptrend remains in place, but failure to end the day/week above $33.00 exacerbated Silver’s plunge. Bullish momentum has faded, as depicted by a Relative Strength Index (RSI), which gives mixed signals. The RSI is bullish, but the slope is aiming downwards.
Buyers must clear the February 20 high at $33.20 for a bullish continuation. Once done, further upside Is seen, with the next resistance being the February 14 peak at $33.39 ahead of the $34.00 figure.
Conversely, if XAG/USD drops below $32.00, this would exert downward pressure on the precious metal. the first support would be the 100-day Simple Moving Average (SM) at 31.12, followed by the 50-day SMA and the 200-day SMA, each at 30.70 and 30.46.
XAG/USD Price Chart – Daily
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Although it is not surprising to see another attempt to go to new highs a subsequent intraday selloff puts natural gas at risk of ending the day with a bearish shooting star candlestick pattern. Even though it is a bearish pattern inside an inside day pattern, it shows sellers dominating. The shooting star is typically a stronger bearish indication if it occurs at the top of an uptrend. That would have been yesterday. Nonetheless, in this case the bearish one-day candle follows a bearish candle from Thursday.
Resistance Continues to Hold
Resistance has been seen around a logical price resistance zone marked by a top parallel rising trend channel line. A bullish breakout above the line and therefore the channel was last attempted on January 13, the prior trend high. That new high day also ended the day in a decisive bearish position. Even though there could be more upside before the current advance is complete, the combination of the channel line pattern and the bearish response indicate that the chance of a bearish pullback of some degree is more likely now.
Bearish Below $4.15
A bearish signal will be indicated on a drop below today’s low of $4.15. Yesterday’s low of $4.03 along with the 50% retracement of an internal uptrend at $4.02 is the next potential support area. However, there is confluence of two Fibonacci retracement levels at $3.98, which may make it a more likely target for a minimum pullback. Further down is a possible support zone from $3.75 to $3.73. The behavior around the internal thin uptrend line showing near-term dynamic support should also provide clues as to changes in support and demand. If a deeper pullback does occur, a minimum test of support around that trendline seems likely.
For a look at all of today’s economic events, check out our economic calendar.
