Silver price registers modest gains despite rising US Treasury bond yields and a strong US Dollar. The grey metal dipped to $27.00 but climbed as buyers stepped in. The XAG/USD trades at $27.33, up by 0.38%.
Silver remains upward biased, and it remains trading within the 50% and 38.2% Fibonacci retracements, drawn from the latest cycle low and high, each at $24.33 and $29.78, respectively.
The Relative Strength Index (RSI) is in bullish territory, indicating that momentum favors bulls. However, from a price action standpoint, buyers need to clear the 38.2% Fib retracement at $27.70 to challenge year-to-date (YTD) highs. Once surpassed, the next key resistance level would be the $28.00 psychological figure, followed by the 23.6% Fib retracement at $28.49 ahead of $29.00.
On the flip side, if sellers want to push prices lower, they must drag prices below the 50% Fib retracement at $27.05. Once done, sellers must clear $27.00, followed by the confluence of the May 2 low and the 50-day moving average (DMA) at $26.02/08.
Overview | |
---|---|
Today last price | 27.33 |
Today Daily Change | 0.09 |
Today Daily Change % | 0.33 |
Today daily open | 27.24 |
Trends | |
---|---|
Daily SMA20 | 27.53 |
Daily SMA50 | 25.96 |
Daily SMA100 | 24.51 |
Daily SMA200 | 23.86 |
Levels | |
---|---|
Previous Daily High | 27.52 |
Previous Daily Low | 27.16 |
Previous Weekly High | 27.44 |
Previous Weekly Low | 26.02 |
Previous Monthly High | 29.8 |
Previous Monthly Low | 24.75 |
Daily Fibonacci 38.2% | 27.3 |
Daily Fibonacci 61.8% | 27.38 |
Daily Pivot Point S1 | 27.09 |
Daily Pivot Point S2 | 26.94 |
Daily Pivot Point S3 | 26.72 |
Daily Pivot Point R1 | 27.46 |
Daily Pivot Point R2 | 27.67 |
Daily Pivot Point R3 | 27.82 |
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