Silver consolidates in a tight range around $26 this Thursday. XAG/USD awaits fresh impetus for a range breakout on 1H. Path of least resistance appears to the upside for the metal. Following wild swings witnessed on Wednesday, Silver (XAU/USD) has entered a phase of consolidation around the $26 mark this Thursday. The white metal is in search of a fresh direction after having crashed to $23.50 levels a day before. Are investors looking for a bullish reversal confirmation? Let’s take a look at XAG/USD’s hourly chart, where the price is teasing a pennant breakout at the $26 level. The Relative Strength Index (RSI) is flatlined just above the midline, still keeping buyers hopeful. An hourly closing above the aforesaid resistance will confirm the pattern, opening doors towards the horizontal 200-hourly Simple Moving Average (HMA) at $26.64. Further north, the bearish 100-HMA at $27.13 will be challenged to confirm a bullish reversal. Alternatively, the immediate downside remains capped at $25.75, the confluence of the horizontal 21-HMA and bearish 50-HMA. Acceptance below the latter could trigger a fresh slide towards the rising trendline support at $25.39. 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 GBP/USD: Advance looks like merely a dead cat bounce FX Street 2 years Silver consolidates in a tight range around $26 this Thursday. XAG/USD awaits fresh impetus for a range breakout on 1H. Path of least resistance appears to the upside for the metal. Following wild swings witnessed on Wednesday, Silver (XAU/USD) has entered a phase of consolidation around the $26 mark this Thursday. The white metal is in search of a fresh direction after having crashed to $23.50 levels a day before. Are investors looking for a bullish reversal confirmation? Let’s take a look at XAG/USD’s hourly chart, where the price is teasing a pennant breakout at the $26 level. The Relative… 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.
