XAG/USD is consolidating the downside impulse. Chances of a bullish correction are highly probable. XAG/USD is flat on the session so far following a down day for the precious metal on a choppy session on Wall Street. The white metal was under pressure and down by over 2.7% into the closing bell. XAG/USD fell from a high of $25.8250 to a low of $25.0110. At the time of writing, silver is trading at $25.0423 and stuck in a narrow $25.0150 / $25.1085 range. Meanwhile, the gold to silver ratio rallied by 2% with gold it performing for its safe have qualities and silver’s industrial qualities being tied to a rout in the commodities complex. The CRB index was down by some 2.4% on the day weighed heavily by over a 6% drop in oil prices due to the concerns for demand pertaining to the third European covid wave and slower vaccine rollouts. Silver technical analysis XAG/USD is testing the daily demand territory ahead of the break of the psychological $25.000 area. An upside correction could be on the cards at this juncture. Prior support that would be expected to act as resistance on a restest could be an optimal bearish entry point. On the daily chart, the daily support higher up at around $25.8000 has a confluence with a 50% mean reversion of the daily bearish impulse. However, the first 4-hour structure falls in at $25.4135. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Dogecoin price rests at an inflection point for the bull market FX Street 1 year XAG/USD is consolidating the downside impulse. Chances of a bullish correction are highly probable. XAG/USD is flat on the session so far following a down day for the precious metal on a choppy session on Wall Street. The white metal was under pressure and down by over 2.7% into the closing bell. XAG/USD fell from a high of $25.8250 to a low of $25.0110. At the time of writing, silver is trading at $25.0423 and stuck in a narrow $25.0150 / $25.1085 range. Meanwhile, the gold to silver ratio rallied by 2% with gold it performing for its safe… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.