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Silver Price Forecast: XAG/USD bulls have the upper hand above $59.00 confluence
Silver (XAG/USD) attracts fresh buyers near the $58.25-$58.20 zone during the Asian session on Thursday, stalling the previous day's modest pullback from the $61.00 neighborhood, or an over two-week high. The white metal, however, lacks follow-through and currently trades just above the mid-$59.00s, down over 0.40% for the day. This week's breakout through the $59.00 confluence – comprising the 100-period Simple Moving Average (SMA) on the 4-hour chart and the 23.6% Fibonacci retracement level of the fall from the June 17 high – was seen as a key trigger for XAG/USD bulls. The Relative Strength Index (RSI) at ... (full story)
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