• Silver trades and gains 0.60% after touching a daily low of $29.35.
  • Momentum is neutral, with RSI around the 50-neutral line, suggesting buyers and sellers are balanced.
  • Key resistance at $30.25 and $31.54, with support levels at $29.05 and $28.66.

Silver climbed during the North American session, gaining more than 0.60% amid thin trading liquidity conditions. Wall Street remained closed in observance of the Juneteenth holiday. The XAG/USD trades at $29.71 after hitting a daily low of $29.35.

XAG/USD Price Analysis: Technical analysis

The grey metal remains neutral to upward bias, despite diving from year-to-date (YTD) highs reached at $32.51, below the $30.00 figure. Silver seems to have bottomed after hitting a monthly low of $28.66; since then, XAG/USD edged higher, and it’s shy of challenging the $30.00 mark.

Momentum shows that neither buyers nor sellers are in charge, as the Relative Strength Index (RSI) hovers around the 50-neutral line.

The most likely scenario would be a bullish continuation if XAG/USD buyers reclaim $30.00, which could reignite Silver’s rally and pave the way for further upside. The next resistance level would be the June 12 high at $30.25, followed by the month-to-date (MTD) high of $31.54, the June 7 peak. A breach of the latter will expose the YTD high of $32.51.

On the other hand, if XAG/USD sellers drag spot prices below the 50-day moving average (DMA) at $29.05, it will expose $29.00. Once cleared, that could expose the MTD low of $28.66, ahead of plunging toward the 100-DMA at $26.60.

XAG/USD Price Action – Daily Chart

XAG/USD

Overview
Today last price 29.71
Today Daily Change 0.17
Today Daily Change % 0.58
Today daily open 29.54
 
Trends
Daily SMA20 30.29
Daily SMA50 29.03
Daily SMA100 26.54
Daily SMA200 24.84
 
Levels
Previous Daily High 29.68
Previous Daily Low 28.93
Previous Weekly High 30.26
Previous Weekly Low 28.66
Previous Monthly High 32.51
Previous Monthly Low 26.02
Daily Fibonacci 38.2% 29.39
Daily Fibonacci 61.8% 29.22
Daily Pivot Point S1 29.09
Daily Pivot Point S2 28.63
Daily Pivot Point S3 28.33
Daily Pivot Point R1 29.84
Daily Pivot Point R2 30.14
Daily Pivot Point R3 30.59

 

 

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