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Silver Price Analysis: XAG/USD rebound prods $23.60 resistance confluence
Silver Price (XAG/USD) clings to mild gains near $23.50-55 as bulls take a breather while jostling with the short-term key resistance during early Thursday. In doing so, the bright metal also makes rounds to the weekly high amid a three-day uptrend. A convergence of a downward-sloping trend line from May 05 and a fortnight-old descending resistance line appears challenging the XAG/USD buyers around $23.60. That said, a sustained break of the 50-SMA and bullish MACD signals keep the Silver buyers hopeful of crossing the $23.60 hurdle, which in turn will allow them to meet the $24.00 round figure. However, the 200-SMA ... (full story)