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  • Silver looks south, as 200-DMA support gives way once again.
  • RSI has turned south below the midline while 21-DMA caps the upside.
  • A test of the horizontal support sub-$24 is back on the table.

Silver  (XAG/USD) is battling the critical 200-daily moving average (DMA) support at $25.11, as sellers look for an entry, in a bid to test the $24 mark.

The white metal breached the abovementioned support on Friday but managed to recapture it on a daily closing basis.

However, the XAG bulls continue to lack conviction, as the bears step in and fight back control on Monday.

The 14-day Relative Strength Index (RSI) edges lower, moving away from the midline, allowing room for more declines.

A daily closing below the 200-DMA could expose the April 5 low of $24.61.

Further south, the $24 round figure could offer some reprieve to the XAG bulls.

The sellers would then target the three-month lows of $23.78, where the horizontal trendline (orange) coincides.

Silver Price Chart: Daily

Alternatively, any recovery attempts would need to clear the bearish 21-DMA, now at $25.32.

The horizontal 100-DMA at $25.70 will then get tested, with the bulls seeking total control.

Silver Additional levels

 

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