• Silver price continues to trade below the $25.00 figure as support takes hold around $24.80.
  • XAG/USD has been trading sideways, bracing around the 20-day EMA at $24.70 for the last three days.

Silver price trends downwards for the third straight day, though it stays above the 20-day Exponential Moving Average (EMA) after dipping to a daily low of $24.51. At the time of writing, the XAG/USD is trading at $24.81, below its opening price by 0.25%.

XAG/USD Price Action

The XAG/USD is trading sideways, as it has been since April 18. Also, the Relative Strength Index (RSI), after bolstering the XAG/USD towards its YTD high of $26.08, has retreated, aiming towards the neutral area, as sellers continue to enter the market, as XAG/USD so far had failed to crack the 20-day EMA at $24.70. if XAG/USD sellers break below the latter, the next support would be a downslope resistance trendline, turned support, drawn from January highs, that passes around $24.20-30, ahead of posing a challenge to the $24.00 figure.

On the flip side, the XAG/USD first resistance would be the April 25 daily high at $25.23, followed by the April 20 cycle high at $25.49. The next resistance remains the YTD high at $26.08, followed by the last year’s high at $26.94.

XAG/USD Daily Chart

XAG/USD Daily Chart

XAG/USD

Overview
Today last price 24.84
Today Daily Change -0.07
Today Daily Change % -0.28
Today daily open 24.91
 
Trends
Daily SMA20 24.89
Daily SMA50 22.94
Daily SMA100 23.18
Daily SMA200 21.51
 
Levels
Previous Daily High 25.23
Previous Daily Low 24.73
Previous Weekly High 25.6
Previous Weekly Low 24.64
Previous Monthly High 24.16
Previous Monthly Low 19.9
Daily Fibonacci 38.2% 24.92
Daily Fibonacci 61.8% 25.04
Daily Pivot Point S1 24.68
Daily Pivot Point S2 24.45
Daily Pivot Point S3 24.18
Daily Pivot Point R1 25.18
Daily Pivot Point R2 25.46
Daily Pivot Point R3 25.68

 

 

 
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