Silver Price Analysis: XAG/USD soars and breaks above $25.00, hits four-month high
- Silver (XAG/USD) surpasses the key $25.00 level, reaching a four-month peak at $25.25.
- After a brief pause on November 29, Silver resumed its upward trend.
- Key resistance levels to watch include the psychological barrier at $25.50, the May 10 swing high at $25.91, and the year-to-date high of $26.13.
- XAG/USD would shift bearish on a daily close below $25.00.
Silver climbs above the $25.00 figure for the first time since August and reaches a four-month high of $25.25, even though US Treasury bond yields and the US Dollar (USD) post solid gains. Nevertheless, the grey metal rises more than 0.70%, exchanging hands above the $25.10 area.
The XAG/USD resumed its uptrend after pausing on November 29, which witnessed the formation of a ‘doji,’ but buyers achieving a daily close above $25.00 opened the door for further gains. That said, the first resistance would be the psychological $25.50 area, followed by the May 10 swing high at $25.91, ahead of the year-to-date (YTD) high of $26.13.
For a bearish turnaround, sellers need a daily close below $25.00, before they push prices toward the November 29 low of $24.85, ahead of the November 28 low of $24.54.
XAG/USD Price Analysis – Daily Chart
XAG/USD Technical Levels
Author
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
