Silver Finally Halts 15-Day Long Losing Streak

FXOpen

Silver stopped the 15-Day long losing streak yesterday with the price of the white metal rising above 14.20, hence closing in the positive territory. The technical bias remains bearish because of a Lower Low in the ongoing wave.

Technical Analysis

As of this writing, the precious metal is being traded around $14.26. A support may be noted near 14.00-14.02, the confluence of Wednesday low as well as psychological number ahead of 13.96, the low of 2015 as demonstrated in the following daily chart.

Silver Finally Halts 15-Day Long Losing Streak

On the upside, the precious metal is likely to face a hurdle near $14.39, the intraday high of yesterday ahead of 15.00-15.29, the confluence of psychological level as well as key horizontal resistance area.  The technical bias will remain bearish as long as the 16.34 resistance area is intact.

US Jobless Claims

The number of Americans filing for unemployment benefits fell last week, pointing to a fairly robust labor market. Initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 271,000 for the week ended Nov. 14, the Labor Department said on Thursday. The prior week’s claims were unrevised.

Claims have now held below the 300,000 threshold for 37 consecutive weeks, the longest stretch in years, and are not too far from levels last seen in the early 1970s. Claims below this level are usually associated with a healthy jobs market.Last week’s drop in claims was in line with economists’ expectations.

Trade Idea

Considering the overall technical and fundamental outlook, buying the white metal around the current levels appears to be a good strategy in short to medium term.

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Forex Trading with FXOpen

Forex Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 50 markets
  • Trade with spreads from 0.0 pips
  • Take advantage of commissions from $1.50/lot
Learn more

Latest articles

Shares

How Earnings Reporting Could Impact Netflix (NFLX) Share Price

Earnings season is gaining momentum. Today, after the close of the main trading session, Netflix (NFLX) is set to release its quarterly financial results.

Analysts are optimistic, forecasting earnings per share (EPS) of $7.08, up from $4.88 a

Commodities

XAU/USD Chart Analysis: Volatility at a Yearly Low

The daily chart of XAU/USD shows that the Average Directional Index (ADX) has reached its lowest level since the beginning of 2025, indicating a significant decline in gold price volatility.

Yesterday’s release of the US Producer Price Index

Forex Analysis

Pause in Dollar Rally: Weak Data and Powell Dismissal Rumours

Amid rising market volatility, the US dollar is losing ground: USD/JPY is correcting after a recent bullish impulse, while USD/CAD is retreating from the upper boundary of its medium-term sideways range. This corrective movement was triggered by disappointing

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.