Silver price trips down and aims below the $23.00 mark, which was briefly visited by the grey metal and capped by a strong recovery from the Greenback.
Silver is facing a potential double-top formation on the daily chart suggests further retracement is possible. Key support levels include the 50-day moving average at $22.93 and the 20-day DMA at $22.45. On the upside, reclaiming $23.00 would bring the 200-DMA at $23.28 into focus, followed by the September 23 daily high at $23.77. The XAG/USD is trading at $22.86, down 1.82%.
00, the following resistance level would be the 200-DMA at $23.28, which needs to be cleared, along with the September 23 daily high at $23.77, the latest cycle high, to shift the grey-metal bias to upwards. In that outcome, the XAG/USD next resistance would be $24.00. XAG/USD Price Action – Daily chart XAG/USD Technical Levels XAG/USD Overview Today last price 22.87 Today Daily Change -0.45 Today Daily Change % -1.93 Today daily open 23.32 Trends Daily SMA20 22.39 Daily SMA50 22.
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