Silver Price Analysis: XAG/USD flirts with monthly hurdle around $25.50

  • Silver steps back from intraday high after two-day uptrend.
  • Bullish Momentum back recovery from three-month low, 200-SMA become a tough nut to crack for the buyers.

Silver (XAG/USD) prices struggle to extend the two-day advances beyond $25.50 during early Friday. That said, the bright metal eases to $25.28, down 0.18% on a day by the press time.

In doing so, the commodity jostles with the previous support line from June 21 amid strong Momentum, suggesting further recovery from the lowest levels since April, hit earlier in the week.

Though, multiple bottoms marked since June 17, surrounding $25.80 and the $26.00 will challenge the silver buyers, if they manage to stay beyond $25.50, on their target of $26.30, comprising 200-SMA.

In a case where silver remains firmer past $26.30, the monthly high near $26.80 could stop the north-run targeting the mid-June lows close to $27.40.

Alternatively, the precious metal’s weakness past $25.30 could recall the $25.00 round figure to the chart.

However, any further downside will be questioned by the lows marked during mid-April and recently, around $24.70-75.

Silver: Four-hour chart

Trend: Further recovery expected

Additional important levels

Today last price 25.43
Today Daily Change 0.01
Today Daily Change % 0.04%
Today daily open 25.42
Daily SMA20 25.93
Daily SMA50 26.82
Daily SMA100 26.34
Daily SMA200 25.87
Previous Daily High 25.46
Previous Daily Low 25.02
Previous Weekly High 26.46
Previous Weekly Low 25.6
Previous Monthly High 28.56
Previous Monthly Low 25.52
Daily Fibonacci 38.2% 25.29
Daily Fibonacci 61.8% 25.19
Daily Pivot Point S1 25.14
Daily Pivot Point S2 24.85
Daily Pivot Point S3 24.69
Daily Pivot Point R1 25.59
Daily Pivot Point R2 25.75
Daily Pivot Point R3 26.03



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