Silver prices rallied sharply on Monday, posting gains of more than 4%.
Silver rallies over 4%, trading at $31.42 after rebounding from a low of $30.25 in thin liquidity. Technicals indicate strong upward bias, with bullish RSI not yet overbought. Key resistance levels: Psychological $32.00 figure, YTD high at $32.51, and $33.00 mark. Key support levels: $31.00 figure, $30.50 psychological level, and May 23 low of $30.07. At the time of writing, they were at $31.42. The grey metal bounced off daily lows of $30.
With that said, the XAG/USD first resistance would be the psychological $32.00 figure. Once cleared, overhead resistance lies with the YTD high, followed by the $33.00 mark. Conversely, the XAG/USD first support would be the $31.00 figure. Further losses lie below that demand area, like the $30.50 psychological level, followed by the May 23 low of $30.07. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 31.63 Today Daily Change 1.27 Today Daily Change % 4.
XAGUSD Metals Technical Analysis Silver
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