- La Plata (XAG/USD) falls for the third consecutive day, following the taking of profits as the geopolitical risk premium is reduced.
- US president Donald Trump points out a period of two weeks before deciding on a possible US intervention in the Iran-Israel crisis.
- The price is around 36.00 $, supported by the 100 -period mobile average in the 4 -hour graph, the minimum intradic is at $ 35.51.
La Plata (XAG/USD) is still under pressure for the third consecutive day on Friday, going back even more after the US president Donald Trump announced that he would wait two weeks before deciding whether the US should intervene in the growing confrontation between Iran and Israel. This pause has reduced part of the geopolitical risk premium that recently fed flows to precious metals such as safe refuge, which led operators to take profits and reassess positions while investors digest the changing geopolitical panorama.
At the time of writing, La Plata is quoted around $ 36.00 during US negotiation hours, recovering modestly after having dropped from an intradic minimum of $ 35.51. The metal found some support near its mobile average of 100 periods (MA) in the 4 -hour graph, which is acting as a key cushion for prices in the middle of the current setback.
From a technical perspective, La Plata has begun to show signs of weakness in its recent upward trend, suggesting a possible deeper setback as the momentum fades. After enjoying a constant ascent within an orderly ascending channel since the beginning of June, the metal has now fallen below the lower limit of the channel, noting that buyers are losing control, at least in the short term.
Currently, the silver remains just above its mobile average of 100 periods around $ 35.65, which has reliably damping price falls in recent weeks. This dynamic support will be the first line of defense for the bullies.
The Relative Force Index (RSI) continues to descend after showing a clear bearish divergence, reinforcing the signs that the uprising impulse is fading. At the same time, the exchange rate (ROC) has fallen into negative territory, confirming even more than the recent ascending impulse of La Plata has lost strength and now opens the door to a broader corrective phase.
Looking ahead, a sustained movement would be needed above the broken channel and a decisive breakdown above $ 36.50 to relive the bullish impulse and expose the following resistance around 37.00 $ –37.30 $. On the contrary, if the silver fails to defend the MA of 100 periods and falls below $ 35.50, the metal could be under greater pressure, with the following significant support seen at $ 35.00 and then $ 34.50. For now, short -term bias remains cautiously inclined downward unless buyers regain control over 36.50 $ with conviction.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
