Silver Price Analysis: XAG/USD risk reversal stays bullish for third consecutive day

Anil Panchal FXStreet

One-month risk reversal of silver (XAG/USD), a gauge of calls to puts, rises for the third consecutive day during May, per the latest data from Reuters.

This goes hand-in-hand with the white metal’s uptrend that recently eased from the intraday high of $26.73, up 0.65% around $26.63 by the press time of early Thursday.

Risk reversal flashes +0.850 figure for May 05 after rising 1.000 and 0.350 respectively during the previous two days.

Technically, a short-term rising wedge restricts silver’s price moves between $26.10 and $27.00 with momentum indicators suggesting a pullback in the latest run-up.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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