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Silver Price Analysis: XAG/USD stays firmer past 200-DMA as bulls eye $22.25
Silver price (XAG/USD) picks up bids to refresh weekly top around $21.60 during Thursday’s Asian session. In doing so, the bright metal rises for the third consecutive day while justifying the previous day’s upside break of the 200-DMA. Also keeping the XAG/USD bulls hopeful is the firmer RSI (14) line, not overbought. With this, the quote is all set to approach the monthly high surrounding the 50% Fibonacci retracement of the March-September downside, near $22.25. However, June’s peak surrounding $22.50 might challenge the silver buyers afterward, if not then a run-up towards the 61.8% Fibonacci retracement ... (full story)
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- Posted: Nov 23, 2022 8:10pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 103
