Silver Price Analysis: XAG/USD dips below $25.00 but remains bullish

Silver retreats to $24.80, pressured by climbing US Treasury yields and a stronger Dollar.
Technical outlook remains positive, with potential resistance points set at $25.50 and $25.91.
Support levels to watch include $24.07 and $24.00, with significant moving averages providing additional benchmarks.

Christian Borjon Valencia FXStreet

Silver’s price retreated below $25.00 per troy ounce as US Treasury yields climbed following US data that induced investors to trim Fed rate cut bets. Consequently, the US Dollar rallied, and the XAG/USD exchanged hands at $24.80, down 0.79%.

XAG/USD Price Analysis: Technical outlook

Silver remains upward biased despite retreating below the $25.00 figure. Although it achieved a daily close around $24.80, the grey metal remains poised for gains that could drive prices toward the $25.50 area and beyond. The next stop would be the December 4 high at $25.91, and up next would be the $26.00 mark.

On the other hand, if sellers stepped in and drove XAG/USD prices below $24.50, the first key support level is seen at $24.07, the March 13 daily low. Once surpassed, the next stop would be $24.00, followed by the confluence of the 100 and 200-day moving averages (DMAs) at $23.29/30.

XAG/USD Price Action – Daily Chart

XAG/USD

Overview
Today last price	24.82
Today Daily Change	-0.19
Today Daily Change %	-0.76
Today daily open	25.01

Trends
Daily SMA20	23.41
Daily SMA50	23.01
Daily SMA100	23.33
Daily SMA200	23.31

Levels
Previous Daily High	25.03
Previous Daily Low	24.08
Previous Weekly High	24.64
Previous Weekly Low	23.02
Previous Monthly High	23.5
Previous Monthly Low	21.93
Daily Fibonacci 38.2%	24.67
Daily Fibonacci 61.8%	24.44
Daily Pivot Point S1	24.38
Daily Pivot Point S2	23.75
Daily Pivot Point S3	23.43
Daily Pivot Point R1	25.34
Daily Pivot Point R2	25.66
Daily Pivot Point R3	26.29

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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