Defending the 21 SMA on the 4-hour chart is critical for XAG / USD bulls

• Silver remains within a symmetrical triangle on the 4-hour chart.
• The XAG / USD expects a breakout of the range, with a higher probability of a breakout to the upside.
• The bullish RSI and 21 SMA support keep XAG buyers hopeful.

Silver (XAG / USD) rallied again during the European session on Tuesday, after falling back into losses the day before.

Sellers continue to lurk above the $ 26.00 level, keeping the support zone around $ 25.80 / 60 exposed.

However, the 21-period simple moving average on the 4-hour chart, sloping upward at $ 25.87, has come to the rescue of the XAG bulls.

Therefore, it is critical for the white metal to hold the support of the 21 SMA, to regain the round level of $ 26.00.

If the buying pressure intensifies, we could see that it is likely to break above the $ 26.00 level and target the resistance of the triangle at $ 26.15.

The close of a four-hour candle above this last level is likely to validate the breakout of a symmetrical triangle, opening the doors towards the psychological level of $ 26.50.

The RSI is moving apathetically around 58, above the center line. Therefore, the chances of a possible further raise remain higher.

However, if the price closes the candle below the support of the 21 SMA, a breakout of the triangle support seems inevitable. In that case, the upward sloping 50 SMA support at $ 25.49 will enter the picture.

Silver 4 hour chart

Silver additional levels