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 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 NZD/USD Price Analysis: Consolidates near 0.7030, below 50-hour SMA FX Street 2 years 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… 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.
