Silver Price Analysis: XAG/USD bears approach six-week-old support near $21.00

Silver Price Analysis: XAG/USD bears approach six-week-old support near $21.00

From fxstreet.com

Silver (XAG/USD) stays on the back foot for the second consecutive day, taking offers at around $21.35, during Thursday‘s Asian session. In doing so, the bright metal extends the recent pullback amid failures to cross the short-term key hurdles. Also keeping sellers hopeful is the steady RSI (14). That said, the commodity prices drop towards an upward sloping support line from May 13, at $21.00 by the press time. However, the monthly low of $20.89 and May’s bottom surrounding $20.45 will challenge the quote’s further declines ahead of highlighting the $20.00 psychological magnet for bears. Alternatively, the ... (full story)

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