Silver price (XAG/USD) seesaws around $25.00 after posting the biggest daily gains in a week the previous day. In doing so, the bright metal braces to reject the “Double top” bearish chart formation on the hourly play.
It’s worth noting that the quote’s sustained trading above the 100 and 200 Hourly Moving Averages (HMAs) join firmer RSI (14), not overbought, to keep the Silver buyers hopeful of breaking the double tops near $25.15 and reject the bearish chart pattern.
Following that, a run-up toward April 2022 high near $26.25 can’t be ruled out. However, the RSI may turn overbought afterward and can prod the Silver buyers before they approach the previous yearly top surrounding $27.00.
Meanwhile, the 100-HMA and a two-week-old ascending trend line, respectively near $24.90 and $24.70, restrict the short-term downside of the XAG/USD price.
Should the quote breaks the $24.70, the previous Thursday’s low of $24.60 and the 200-HMA level of near $24.35 will be crucial as a break of which can direct Silver price toward the sub-$24.00 zone.
Overall, the Silver price is likely to remain firmer but the quote’s further upside hinges on a clear break of $25.15.
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
暂无评论，立马抢沙发