Silver Price Analysis: XAG/USD’s rebound stalls at 21-HMA, $25 support at risk


  • Silver attempts a bounce after holding onto the $25.50 level.
  • Acceptance above 21-HMA is critical to unleashing further gains.
  • RSI stays bearish, pointing to a shallow recovery in XAG/USD.

Silver (XAG/USD) is attempting a minor bounce in European trading, having found solid support near the midpoint of the $25 level.

However, the XAG bulls appear to lack follow-through, as it faces stiff resistance at the horizontal 21-hourly moving average (HMA), now at $25.68

Silver Price Chart: Hourly

Acceptance above the latter is needed for the bulls to revive the recovery momentum towards the $25.85 level, where the price faced rejection in the US last session. At that level, the bearish 50-HMA also coincides.

The white metal could look to recapture the powerful resistance at $26, the confluence of the 200 and 100-HMAs, if the abovementioned hurdle is cleared on a sustained basis.

The Relative Strength Index (RSI) points south below the midline, suggesting that any pullback attempts are likely to remain shallow.

To the downside, a sustained move below the $25.50 support area would threaten the $25 threshold.

The March 5 low of $24.83 could be tested if the selling pressure intensifies.

Silver Additional levels

XAG/USD

Overview
Today last price 25.66
Today Daily Change -0.09
Today Daily Change % -0.35
Today daily open 25.75
 
Trends
Daily SMA20 26.26
Daily SMA50 26.38
Daily SMA100 25.63
Daily SMA200 24.61
 
Levels
Previous Daily High 26.24
Previous Daily Low 25.41
Previous Weekly High 26.64
Previous Weekly Low 25.76
Previous Monthly High 30.07
Previous Monthly Low 25.9
Daily Fibonacci 38.2% 25.73
Daily Fibonacci 61.8% 25.92
Daily Pivot Point S1 25.36
Daily Pivot Point S2 24.97
Daily Pivot Point S3 24.54
Daily Pivot Point R1 26.19
Daily Pivot Point R2 26.63
Daily Pivot Point R3 27.02

 

 

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