Just been watching silver price action this week and it's been pretty solid. XAG/USD bounced hard off that $78 level and now sitting around $80.72, up over 7% for the week thanks to dollar weakness. The real question is whether it can break through $82.12 where it peaked last Tuesday.



Technically looking decent - RSI still showing bullish momentum, but that $82 resistance is holding so far. If silver price clears that, next target would be $83 from mid-April. On the flip side, if we see a daily close below the 100-day moving average at $80, could see some pullback toward $77.19.

So basically watching two scenarios - either silver price continues higher toward $83, or we get a pullback to the $77 zone. The momentum is there, just depends on whether bulls can hold the line at these key levels.
XAG-0.47%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned