• Silver consolidates near the $25.80 after a free fall from the $28.00 level.
  • XAG/USD is holding above 200-day SMA indicating emergence of support here.
  • Oversold momentum oscillators warn against aggressive directional bids.

Silver Price (XAG/USD) treads water in the Asian session. Prices move in a very close trading band with no meaningful traction. 

At the time of writing, XAG/USD is trading at $25.89, down 0.02% for the day.

XAG/USD daily chart

On the daily chart, the white metal has been consolidating in a broader trading range of $27.00-$28-50, before breaking the range on June 16. XAG/USD tested the levels last seen in April.

If price makes sustained moves above the intraday high at $25.96, then it could continue to move higher. The first target could be found at the previous day’s high at $26.29.

The  Moving Average Convergence Divergence ( MACD) indicator holds onto the oversold zone with stretched selling conditions. Any uptick in the MACD would allow bulls to take over the $26.60 horizontal resistance level.

That said, XAG/USD  would be motivated to test the high of June 17 in the vicinity of the  $27.25 area.

Alternatively, if price decisively breaks the 200-day Simple Moving Average (SMA) at $25.70, then it could meet its first lower target at the low of June 21 at $25.55.

A daily close below the mentioned level could prompt the bulls to march toward April 15 low at $25.32 followed by the $25.00 horizontal support level.

XAG/USD additional level

XAG/USD

Overview
Today last price 25.89
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 25.89
 
Trends
Daily SMA20 27.3
Daily SMA50 27.06
Daily SMA100 26.58
Daily SMA200 25.71
 
Levels
Previous Daily High 26.3
Previous Daily Low 25.74
Previous Weekly High 28.02
Previous Weekly Low 25.76
Previous Monthly High 28.75
Previous Monthly Low 25.81
Daily Fibonacci 38.2% 26.08
Daily Fibonacci 61.8% 25.95
Daily Pivot Point S1 25.66
Daily Pivot Point S2 25.42
Daily Pivot Point S3 25.1
Daily Pivot Point R1 26.21
Daily Pivot Point R2 26.53
Daily Pivot Point R3 26.77

 


 

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