Silver Price Analysis: Bulls consolidate near 200-day SMA

  • Silver prints substantial gains after the previous day’s fallout.
  • XAG/USD eyes 200-day SMA as bears gather momentum for the next downside.
  • Momentum oscillator reflects the bearish biasness.

Silver Price (XAG/USD) took a breather on Friday and edged higher in the early European session. The prices fell sharply consecutively for the past two sessions while touching the low of $25.77 on Thursday. 

At the time of writing, XAG/USD trades at $26.22, up 1.18% for the day.

XAG/USD daily chart

On the daily chart, the white metal has been under selling pressure near the $28.30 level. The multiple top formations constitute the confluence zone at this level.

If price makes sustained moves below the intraday low at $25.91, then it could continue with the prevailing downside momentum. The first target could be found at the 200-day Simple Moving Average (SMA) at $25.72.

A break of 200-SMA would open a fresh round of selling coupled with the receding Moving Average Convergence Divergence ( MACD) indicator.

That said, XAG/USD bears would be motivated to test the $25.45 horizontal support level, the levels last seen in April. The next in line will be low on April 14 at $25.19.

Alternatively, if price decisively breaks the $26.25 key psychological mark then it could progress toward the $26.70 horizontal resistance level followed by the previous day high of $27.24.

A daily close above the mentioned level could prompt the bulls to march toward the June 16 high at $27.83.

XAG/USD additional levels


Today last price 26.21
Today Daily Change 0.29
Today Daily Change % 1.12
Today daily open 25.92
Daily SMA20 27.68
Daily SMA50 27.01
Daily SMA100 26.64
Daily SMA200 25.73
Previous Daily High 27.25
Previous Daily Low 25.78
Previous Weekly High 28.29
Previous Weekly Low 27.47
Previous Monthly High 28.75
Previous Monthly Low 25.81
Daily Fibonacci 38.2% 26.34
Daily Fibonacci 61.8% 26.68
Daily Pivot Point S1 25.38
Daily Pivot Point S2 24.84
Daily Pivot Point S3 23.91
Daily Pivot Point R1 26.85
Daily Pivot Point R2 27.78
Daily Pivot Point R3 28.32



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1900, retains weekly gains

The EUR/USD pair trades around the 1.19 mark after the Eurozone Q2 Prelim GDP beat estimates with 2% while US PCE inflation rose by less than anticipated in June, printing at 3.5% YoY. Risk-on mood persists.


GBP/USD retreats after flirting with 1.4000

GBP/USD retreated from near the 1.4000 level, but the greenback remains away from investors' radar. Optimism over the Brexit issue and the declining trend in new COVID-19 cases in the UK offers support to the pound.


XAU/USD slides to $1,820 area, downside seems limited

Gold traded with a mild negative bias around the $1,825 region, or daily lows, during the early North American session, albeit lacked any follow-through selling.

Gold News

Shiba gets listed on eToro as demand for SHIB skyrockets

Leading investment platform eToro has been adding cryptocurrency assets on popular demand from users. The Dogecoin killer recently amassed 600,000 holders despite range-bound price action. 

Read more

NIO shares rise again as Wall Street shrugs off recent China woes

NYSE:NIO added 1.86% as EV and China stocks bounced back again. Nio rides higher as industry leader Tesla gets some major upgrades. Nio rival XPeng releases a refreshed look for its compact SUV.

Read more