• Silver retreats from intraday high during three-day uptrend.
  • Bearish MACD signals, failure to cross 23.6% Fibonacci retracement tease sellers.
  • The previous support line from February adds to the upside filters, 50-DMA appears strong support.

Silver (XAG/USD) remains pressured around $25.50 heading into Friday’s European session. Even so, the bright metal remains positive on a day for the third consecutive time at the latest.

The quote rose to the fresh high nearly two weeks the previous day. However, failures to cross the 23.6% Fibonacci retracement (Fibo.) of February-March upside, near $25.80, joined bearish MACD signals to challenge XAG/USD upside afterward.

That said, the quote’s latest weakness eyes to retest the 10-DMA level of $25.16 before directing bears toward the 50% Fibo. level and the 50-DMA, respectively around $24.50 and $24.20.

On the contrary, fresh recovery may aim for a clear break of the 23.6% Fibo. level surrounding $25.80 before targeting the $26.00 threshold.

Even so, the support-turned-resistance line from early February, near $26.25 at the latest, becomes a tough nut to crack for the XAG/USD bulls.

In a case where the commodity prices rally beyond $26.25, the odds of witnessing an upside to the monthly high near $26.95 can’t be ruled out.

Silver: Daily chart

Trend: Pullback expected

Additional important levels

Today last price 25.61
Today Daily Change 0.07
Today Daily Change % 0.27%
Today daily open 25.54
Daily SMA20 25.3
Daily SMA50 24.18
Daily SMA100 23.69
Daily SMA200 23.96
Previous Daily High 25.85
Previous Daily Low 24.97
Previous Weekly High 25.95
Previous Weekly Low 24.47
Previous Monthly High 25.62
Previous Monthly Low 22.01
Daily Fibonacci 38.2% 25.51
Daily Fibonacci 61.8% 25.31
Daily Pivot Point S1 25.06
Daily Pivot Point S2 24.58
Daily Pivot Point S3 24.18
Daily Pivot Point R1 25.93
Daily Pivot Point R2 26.33
Daily Pivot Point R3 26.81



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