• Silver reverses the previous day’s pullback from monthly top, grinds higher of late.
  • Bullish RSI divergence and sustained trading beyond three-week-old support favor bulls.
  • Bears need validation from $21.20 to retake control.

Silver (XAG/USD) prices remain firmer around $22.30 while reversing the previous day’s pullback from a monthly high heading into Monday’s European session.

In doing so, the bright metal again approaches the 200-SMA hurdle that triggered the quote’s U-turn on Friday.

It’s worth noting that the higher low on prices joins the recovery in RSI to hint at the bullish divergence in prices, suggesting the quote’s ability to cross the immediate key SMA hurdle surrounding $22.35.

However, the previous day’s peak surrounding $22.50 appears a validation point for the commodity’s further upside. Following that, a run-up towards May’s peak of $23.30 can’t be ruled out.

Alternatively, pullback remains elusive until XAG/USD prices remain above the three-week-old support line, around $21.70 by the press time.

Even if the bullion prices drop below $21.70, the 23.6% Fibonacci retracement of late April to early May, near $21.20 could act as the last defense of silver buyers.

Silver: Four-hour chart

Trend: Further upside expected

Additional important levels

Today last price 22.27
Today Daily Change 0.35
Today Daily Change % 1.60%
Today daily open 21.92
Daily SMA20 21.72
Daily SMA50 23.26
Daily SMA100 23.72
Daily SMA200 23.51
Previous Daily High 22.48
Previous Daily Low 21.85
Previous Weekly High 22.48
Previous Weekly Low 21.44
Previous Monthly High 23.28
Previous Monthly Low 20.46
Daily Fibonacci 38.2% 22.09
Daily Fibonacci 61.8% 22.24
Daily Pivot Point S1 21.69
Daily Pivot Point S2 21.45
Daily Pivot Point S3 21.05
Daily Pivot Point R1 22.32
Daily Pivot Point R2 22.72
Daily Pivot Point R3 22.96



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 Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD has lost its bullish momentum after having climbed above 1.0570 with the initial reaction to the US data in the American session and retreated toward the mid-1.0500s. On a weekly basis, the pair remains on track to close in positive territory. 


GBP/USD struggles to hold above 1.2300

GBP/USD struggles to hold above 1.2300

GBP/USD has edged lower following a jump above 1.2300 in the early American session on Friday. The market mood remains upbeat ahead of the weekend with Wall Street's main indexes posting strong daily gains on upbeat US data. 


Gold stays below $1,830 as US yields edge higher

Gold stays below $1,830 as US yields edge higher

Gold continues to fluctuate below $1,830 on Friday and looks to close the second straight week in negative territory. Fueled by the risk-positive market environment, the benchmark 10-year US Treasury bond yield is up more than 1% on the day, limiting XAU/USD's upside.

Gold News

Why Cardano could surprise over the weekend

Why Cardano could surprise over the weekend

ADA  set to close out the week with a gain on the workday trading week and over the weekend? Central banks signaled that the rate hike cycle is ending, meaning less stress and tight conditions for trading, opening up room for some upside potential with Cardano set to pop above $0.55 and test a significant cap.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!