Silver Price Analysis: XAG/USD rises sharply above $25.00 as bulls target YTD high

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  • Silver is threatening to test YTD highs after reaching a multi-month high.
  • For that outcome, XAG/USD needs to rally above the $26.00 figure.
  • XAG/USD could turn bearish if it drops below the $25.00 mark.

Silver price rises during Friday’s North American session, reached a six-month high at around $25.46 before dipping to its current spot price. At the time of writing, the XAG/USD is trading at $25.38 after bouncing from a daily low of $25.09, gaining 0.54%.

XAG/USD remains bullish and set to challenge the May 10 daily high at $25.91, ahead of the $26.00 figure. A breach of the latter will expose the year-to-date (YTD) high of $26.12.

For the XAG/USD to flip bearish, it would need to drop below the November 30 high of $25.28. Once done the next support would be the November 29 daily low of $24.85, followed by the November 28 low of $.24.54. Further downside is seen at the November 17 swing high turned support at $24.14.

XAG/USD Price Analysis – Daily Chart

XAG/USD Technical Levels

XAG/USD

Overview
Today last price 25.42
Today Daily Change 0.16
Today Daily Change % 0.63
Today daily open 25.26
 
Trends
Daily SMA20 23.57
Daily SMA50 22.91
Daily SMA100 23.3
Daily SMA200 23.39
 
Levels
Previous Daily High 25.27
Previous Daily Low 24.93
Previous Weekly High 24.33
Previous Weekly Low 23.25
Previous Monthly High 25.27
Previous Monthly Low 21.88
Daily Fibonacci 38.2% 25.14
Daily Fibonacci 61.8% 25.06
Daily Pivot Point S1 25.04
Daily Pivot Point S2 24.82
Daily Pivot Point S3 24.7
Daily Pivot Point R1 25.38
Daily Pivot Point R2 25.5
Daily Pivot Point R3 25.72

 

 

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