Silver Price Analysis: XAG/USD rises sharply above $25.00 as bulls target YTD high

Silver is threatening to test YTD highs after reaching a multi-month high.
For that outcome, XAG/USD needs to rally above the $26.00 figure.
XAG/USD could turn bearish if it drops below the $25.00 mark.

Christian Borjon Valencia FXStreet

Silver price rises during Friday’s North American session, reached a six-month high at around $25.46 before dipping to its current spot price. At the time of writing, the XAG/USD is trading at $25.38 after bouncing from a daily low of $25.09, gaining 0.54%.

XAG/USD remains bullish and set to challenge the May 10 daily high at $25.91, ahead of the $26.00 figure. A breach of the latter will expose the year-to-date (YTD) high of $26.12.

For the XAG/USD to flip bearish, it would need to drop below the November 30 high of $25.28. Once done the next support would be the November 29 daily low of $24.85, followed by the November 28 low of $.24.54. Further downside is seen at the November 17 swing high turned support at $24.14.

XAG/USD Price Analysis – Daily Chart

XAG/USD Technical Levels

XAG/USD

Overview
Today last price	25.42
Today Daily Change	0.16
Today Daily Change %	0.63
Today daily open	25.26

Trends
Daily SMA20	23.57
Daily SMA50	22.91
Daily SMA100	23.3
Daily SMA200	23.39

Levels
Previous Daily High	25.27
Previous Daily Low	24.93
Previous Weekly High	24.33
Previous Weekly Low	23.25
Previous Monthly High	25.27
Previous Monthly Low	21.88
Daily Fibonacci 38.2%	25.14
Daily Fibonacci 61.8%	25.06
Daily Pivot Point S1	25.04
Daily Pivot Point S2	24.82
Daily Pivot Point S3	24.7
Daily Pivot Point R1	25.38
Daily Pivot Point R2	25.5
Daily Pivot Point R3	25.72

Author

Christian Borjon Valencia

FXStreet

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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