Silver Price Analysis: 21-DMA remains a tough nut to crack for the XAG/USD bulls


  • Silver’s daily closing above 200-DMA on Tuesday keeps the buyers hopeful.
  • Although the 21-DMA offers immediate resistance to XAG/USD.
  • RSI stays bearish, suggesting limited upside attempts.

Silver (XAG/USD) is struggling to extend Tuesday’s rebound above the critical 200-daily moving average (DMA), now at $25.00.

Despite the spot gave a daily closing above that level, the bulls are facing an uphill task so far this Wednesday, as the 14-day Relative Strength Index (RSI) continues to trade within the bearish territory, indicative of shallow recovery attempts.

A sustained break below the 200-DMA resistance now support could trigger a fresh sell-off towards the April 5 low of $24.61.

The sellers could then target the three-month lows of $23.78 if the $24 threshold fails to defend the bullish sentiment.

Silver Price Chart: Daily

Alternatively, acceptance above the horizontal 21-DMA at $25.43 could expose the next barrier at 100-DMA, which stands at $25.66.

Further up, the XAG bulls would need to tackle the $26 psychological mark for a sustained move northwards.

Silver Additional levels

XAG/USD

Overview
Today last price 25.15
Today Daily Change -0.01
Today Daily Change % -0.04
Today daily open 25.16
 
Trends
Daily SMA20 25.45
Daily SMA50 26.27
Daily SMA100 25.66
Daily SMA200 24.97
 
Levels
Previous Daily High 25.3
Previous Daily Low 24.77
Previous Weekly High 25.11
Previous Weekly Low 23.78
Previous Monthly High 27.08
Previous Monthly Low 23.78
Daily Fibonacci 38.2% 25.1
Daily Fibonacci 61.8% 24.97
Daily Pivot Point S1 24.86
Daily Pivot Point S2 24.55
Daily Pivot Point S3 24.33
Daily Pivot Point R1 25.38
Daily Pivot Point R2 25.61
Daily Pivot Point R3 25.91

 

 

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