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Silver Price Analysis: XAG/USD pokes weekly resistance line near $24.00

From fxstreet.com

Silver (XAG/USD) buyers attack one-week-old resistance, following the first daily positive closing in three. That said, the quote grinds higher around $23.85 during early Wednesday’s Asian session. Despite bouncing off the lowest levels since late August, silver buyers lack firmer Momentum back-up to overcome the immediate hurdle around $24.00. Even if the quote manages to cross the $24.00 mark, the support-turned-resistance line stretched from early August, near $24.20 will challenge the XAG/USD bulls. Also acting as an upside barrier is the monthly top of $24.86. Meanwhile, pullback moves could aim for the weekly ... (full story)

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  • Category: Technical Analysis