Silver Price Analysis: XAG/USD remains depressed near $25.00 mark, seems vulnerable

  • Silver struggled to capitalize on the previous day’s positive move to two-week tops.
  • The emergence of fresh selling near the $25.30 supply zone favours bearish traders.
  • Bearish oscillators on the daily chart add credence to the near-term negative outlook.

Silver witnessed some selling through the first half of the trading action on Wednesday and eroded a part of the previous day's positive move to two-week tops. The commodity was last seen trading just below the $25.00 psychological mark, down 0.80% for the day.

The XAG/USD once again struggled to make it through the $25.30 supply zone and for now, seems to have stalled its recent recovery move from YTD lows. The mentioned barrier should now act as a key pivotal point for traders and help determine the near-term trajectory.

Meanwhile, technical indicators on the daily chart are still holding in the bearish territory and have just started gaining negative momentum on the 1-hour chart. Given repeated failures near the mentioned barrier, the set-up supports prospects for further losses.

From current levels, weekly swing lows, around the $24.60 region now seems to protect the immediate downside. Some follow-through selling now seems to accelerate the fall towards the $24.00 mark before the XAG/USD eventually drops to the $23.80-75 region (YTD lows).

On the flip side, bulls are likely to wait for a sustained move beyond the $25.30 strong barrier before positioning for any further gains. The XAG/USD might then surpass an intermediate resistance near the $25.55-60 region and aim to reclaim the $26.00 mark.

XAG/USD 4-hour chart


Technical levels to watch


Today last price 25
Today Daily Change -0.16
Today Daily Change % -0.64
Today daily open 25.16
Daily SMA20 25.45
Daily SMA50 26.27
Daily SMA100 25.66
Daily SMA200 24.97
Previous Daily High 25.3
Previous Daily Low 24.77
Previous Weekly High 25.11
Previous Weekly Low 23.78
Previous Monthly High 27.08
Previous Monthly Low 23.78
Daily Fibonacci 38.2% 25.1
Daily Fibonacci 61.8% 24.97
Daily Pivot Point S1 24.86
Daily Pivot Point S2 24.55
Daily Pivot Point S3 24.33
Daily Pivot Point R1 25.38
Daily Pivot Point R2 25.61
Daily Pivot Point R3 25.91



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD retains weekly gains trades above 1.2000

EUR/USD peaked at 1.2079, now stable in the 1.2030 region. The shared currency holds on to recent gains despite renewed demand for its American rival.


GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 


XAU/USD clings to modest gains around $1,780 despite USD strength

The XAU/USD gained traction in the early American session and climbed to a daily high of $1,780. Although the greenback started to gather strength in the second half of the day, the pair stayed relatively resilient and was last seen rising 0.35% on the day at $1,778.

Gold News

WeWork and Venmo join the Bitcoin craze while prices consolidate

The announcement by WeWork that it will begin accepting payments in select cryptocurrencies, including Bitcoin, Ethereum, USD Coin, Paxos, and several others, is another sign of adoption and follows the decision by Tesla to do the same

Read more

Bank of Canada Preview: Dovish surprise to lift USD/CAD

The Bank of Canada is widely expected to keep its policy rate unchanged at 0.25% on Wednesday. However, the improving economic outlook and recent remarks from officials suggest that the BoC could become the first major central bank to lay out a roadmap out of the ultra-loose policy.

Read more