Silver Price Analysis: XAG/USD sellers aim for $26.00 between 100 and 200-DMA

Silver extends pullback from 100-DMA, refreshes intraday low.
Bears can aim for 200-DMA, steady RSI suggests further grinding.

Anil Panchal FXStreet

Silver (XAG/USD) takes offers around $26.20, down 0.20% intraday, to refresh the day’s low during Thursday’s Asian session.

The white metal refreshed the weekly top to pierce 100-DMA the previous day but couldn’t cross the key moving average on the daily closing basis.

The pullback moves take clues from the sidelined RSI indicator to stay between the 100-DMA and 200-DMA.

Hence, the latest declines have a further downside gap before hitting the range support, namely the 200-DMA level of $25.85. Also likely to challenge the silver bears is June’s low near $25.50.

Meanwhile, a daily closing beyond the 100-DMA level of $26.40 needs to refresh the monthly top, currently around $26.80, before giving controls to the buyers.

Following that, the early June’s low near $27.00 can act as an additional filter to the north.

Overall, silver prices remain subdued inside the key DMA envelope.

Silver: Daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	26.2
Today Daily Change	-0.05
Today Daily Change %	-0.19%
Today daily open	26.25

Trends
Daily SMA20	26.05
Daily SMA50	27.04
Daily SMA100	26.42
Daily SMA200	25.84

Levels
Previous Daily High	26.46
Previous Daily Low	25.94
Previous Weekly High	26.78
Previous Weekly Low	25.76
Previous Monthly High	28.56
Previous Monthly Low	25.52
Daily Fibonacci 38.2%	26.27
Daily Fibonacci 61.8%	26.14
Daily Pivot Point S1	25.97
Daily Pivot Point S2	25.7
Daily Pivot Point S3	25.45
Daily Pivot Point R1	26.49
Daily Pivot Point R2	26.74
Daily Pivot Point R3	27.02

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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