Silver looks to extend the bounce while above critical support. Hourly RSI edges higher above the midline, pointing to more gains. $23.60 is the level to beat for XAG/USD’s bulls. Silver (XAG/USD) buyers are once again in near-term control, as the price continues to find support near 50-hourly Simple Moving Average (HMA), currently at $22.80. At the level, the 21-HMA also coincides, making it strong support for the bulls. The white metal heads towards the rising trendline hurdle at $23.60, a break above which could open doors for a test of the bearish 100-HMA at $23.90. The hourly Relative Strength Index (RSI) looks north, at 57.47, allowing for further upside. Also, the 21-HMA is set to pierce the 50-HMA from below, yielding a bullish crossover and adding credence to the recent rebound from $21.65 neighborhood. Alternatively, selling pressure could intensify below the aforesaid critical cushion, with the rising trendline support at $22.40 on sellers’ radar. A breach of the latter would validate a rising channel breakdown, prompting the resumption of the recent sell-off. XAG/USD: Hourly chart XAG/USD: 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 Gold Futures: Upside looks limited near-term FX Street 2 years Silver looks to extend the bounce while above critical support. Hourly RSI edges higher above the midline, pointing to more gains. $23.60 is the level to beat for XAG/USD’s bulls. Silver (XAG/USD) buyers are once again in near-term control, as the price continues to find support near 50-hourly Simple Moving Average (HMA), currently at $22.80. At the level, the 21-HMA also coincides, making it strong support for the bulls. The white metal heads towards the rising trendline hurdle at $23.60, a break above which could open doors for a test of the bearish 100-HMA at $23.90. The hourly Relative Strength Index (RSI)… 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.
