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- Silver Price Analysis: XAG/USD rises sharply above $25.00 as bulls target YTD high
Silver Price Analysis: XAG/USD rises sharply above $25.00 as bulls target YTD high
- Silver is threatening to test YTD highs after reaching a multi-month high.
- For that outcome, XAG/USD needs to rally above the $26.00 figure.
- XAG/USD could turn bearish if it drops below the $25.00 mark.
Silver price rises during Friday’s North American session, reached a six-month high at around $25.46 before dipping to its current spot price. At the time of writing, the XAG/USD is trading at $25.38 after bouncing from a daily low of $25.09, gaining 0.54%.
XAG/USD remains bullish and set to challenge the May 10 daily high at $25.91, ahead of the $26.00 figure. A breach of the latter will expose the year-to-date (YTD) high of $26.12.
For the XAG/USD to flip bearish, it would need to drop below the November 30 high of $25.28. Once done the next support would be the November 29 daily low of $24.85, followed by the November 28 low of $.24.54. Further downside is seen at the November 17 swing high turned support at $24.14.
XAG/USD Price Analysis – Daily Chart
XAG/USD Technical Levels
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