Silver takes out the $25 threshold as sellers look to extend control. A test of the bullish 200-DMA support at $24.68 seems inevitable. RSI remains below 50.00, pointing to more declines ahead. Silver (XAG/USD) is nursing losses around the $25 level after the downward spiral seen so far this week. The bears take a breather before resuming the downtrend, as the daily technical setup remains in their favor. XAG/USD awaits a strong catalyst for the next leg towards the 200-day simple moving average (DMA), which is located at $24.68. The next line of defense for the bulls would be seen at the January lows of $24.19. A break below which a sharp sell-off could be triggered, exposing the $23 round figure. The 14-day Relative Strength Index (RSI) trades flat at 39.65, suggesting that the bearish bias remains well in place. Further, Tuesday’s closing below the crucial 100-DMA at $25.63 adds credence to the downside bias. Silver Price Chart: Daily Alternatively, the XAG bulls need acceptance above the 100-DMA support now resistance to embark upon a meaningful recovery towards the $26 mark. However, the path of least resistance appears southwards for the white metal in the near-term. 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 Why the dollar is rising while yields are falling, blame it on the taxman Yohay Elam 2 years Silver takes out the $25 threshold as sellers look to extend control. A test of the bullish 200-DMA support at $24.68 seems inevitable. RSI remains below 50.00, pointing to more declines ahead. Silver (XAG/USD) is nursing losses around the $25 level after the downward spiral seen so far this week. The bears take a breather before resuming the downtrend, as the daily technical setup remains in their favor. XAG/USD awaits a strong catalyst for the next leg towards the 200-day simple moving average (DMA), which is located at $24.68. The next line of defense for the bulls would be seen… 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.
