Silver hits fresh 6.5-year highs amid gold’s rally. Technical set up favors bulls, but signs of exhaustion evident. XAG bulls gather pace towards 25.00 in the near-term. After a brief upside consolidation seen into the weekly closing, Silver (XAU/USD) started out a fresh week on Monday with a bang, rising nearly $1.50 over the last hours. The latest spike in the white metal is mainly due to the rally in gold, as the traditional safe-haven clinched fresh record high above $1930 levels. On the hourly chart, the price broke out of the last week’s descending triangle pattern and almost reached the pattern target above $24. The bulls now take a breather, as the hourly Relative Strength Index (RSI) has risen sharply in the overbought territory. The next stop for the buyers looks like the September 2013 highs at $24.49 en route the 25 level. To the downside, any corrective slides could test the pattern resistance-turned-support at 22.83, where the hourly 21-Simple Moving Average (HMA) coincides. Further south, the horizontal pattern support at 22.41 could offer some respite to the bulls. However, the path of least resistance appears to the upside in the near-term. Silver: Hourly chart 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 Bitcoin Cash Price Forecast: BCH/USD breaches $250 barrier, can it breakout of this critical range?’ FX Street 3 years Silver hits fresh 6.5-year highs amid gold’s rally. Technical set up favors bulls, but signs of exhaustion evident. XAG bulls gather pace towards 25.00 in the near-term. After a brief upside consolidation seen into the weekly closing, Silver (XAU/USD) started out a fresh week on Monday with a bang, rising nearly $1.50 over the last hours. The latest spike in the white metal is mainly due to the rally in gold, as the traditional safe-haven clinched fresh record high above $1930 levels. On the hourly chart, the price broke out of the last week’s descending triangle pattern and almost reached… 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.
