Silver Price Analysis: XAG/USD looks to retest key $25.00 resistance


  • XAG/USD is consolidating near the $24.80 level. 
  • Additional gains are likely if XAG/USD manages to break above $25.00.
  • Positive MACD hints at bullish bias.

The XAG/USD pair is hovering near the $24.80 level in the Asian session. The prices show some resilience near the daily lows of around $24.65.

At the time of writing, XAG/USD is trading at $24.84, up 0.08% on the day.

Silver four-hourly chart

On the four-hourly chart, the 50-hour simple moving average (SMA) continues to act as a dynamic resistance at $25.00, which coincides with the downward sloping line.

A sustained break above the $25.00 area would call for a test of the first hurdle near the $25.25 horizontal resistance zone. The white metal could then target Thursday’s high near the $25.60 region.

Further up, the next barrier is located at the highs of March 22 near the $25.80 neighborhood.

The Moving Average Convergence Divergence (MACD) indicator reads above the midline, with the bullish crossover reinforcing the upside bias.

On the flip side, If prices break below the support confluence near $24.60 then it would test the lows of April 1 near $24.30. Bears would ask for the level around $24.00 horizontal support area and the next level of monthly lows of $23.75.

Silver additional levels

XAG/USD

Overview
Today last price 24.83
Today Daily Change 0.02
Today Daily Change % 0.08
Today daily open 24.82
 
Trends
Daily SMA20 25.28
Daily SMA50 26.2
Daily SMA100 25.7
Daily SMA200 25.11
 
Levels
Previous Daily High 25.28
Previous Daily Low 24.71
Previous Weekly High 25.62
Previous Weekly Low 24.61
Previous Monthly High 27.08
Previous Monthly Low 23.78
Daily Fibonacci 38.2% 24.92
Daily Fibonacci 61.8% 25.06
Daily Pivot Point S1 24.59
Daily Pivot Point S2 24.36
Daily Pivot Point S3 24.02
Daily Pivot Point R1 25.16
Daily Pivot Point R2 25.5
Daily Pivot Point R3 25.73

 

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