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.

FXStreet Team FXStreet

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

Author

FXStreet Team

FXStreet

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