- The XAG/USD pair is biased to the upside from a daily chart perspective, and could test this year’s high at $24.63.
- XAG/USD is in a solid uptrend, with oscillator support in bullish territory.
- XAG/USD could see a drop if it breaks below $23.50 as it could fall towards the S1 pivot point.
The price of the silver It broke a two-month trend line of resistance, hitting a fresh 8-week high of $23.92 on general US dollar (USD) weakness and falling US Treasury yields. Therefore, the XAG/USD pair is trading at $23.74, up more than 2%, after hitting a low of $23.24.
XAG/USD: Price Action
From a daily chart perspective, XAG/USD is biased to the upside and could soon test this year’s high of $24.63 once it recovers to $23.50. But first, silver buyers need to recoup $24.00, before challenging this year’s highs. The Relative Strength Index (RSI) in overbought conditions continues to point higher, while the Rate of Change (RoC) portrays buyers in command. If XAG/USD fails to break $24.00, it could pave the way for a pullback.
In the short term, the 4-hour chart for XAG/USD shows the white metal in a solid uptrend, testing the daily pivot point R3 at $23.83 after reaching a daily high of $23.92. If XAG/USD breaks above $24.00, it will hit its highest level so far this year. The RSI justifies a bullish continuation in bullish territory, while the RoC does as well.
On the flip side, if XAG/USD stumbles below the R2 daily pivot at $23.62, it would pave the way for further decline. Therefore, the first support for the XAG/USD would be the R1 pivot point at $23.47, followed by the intersection of the 20 EMA and the daily pivot point at $23.30, before dipping towards the S1 pivot point at $23.11.
XAG/USD 4-hour chart
XAG/USD Technical Levels
XAG/USD
Overview | |
---|---|
Last price today | 23.81 |
Today Change Daily | 0.47 |
today’s daily variation | 2.01 |
today’s daily opening | 23.34 |
Trends | |
---|---|
daily SMA20 | 21.88 |
daily SMA50 | 22.2 |
daily SMA100 | 22.55 |
daily SMA200 | twenty-one |
levels | |
---|---|
previous daily high | 23.42 |
previous daily low | 23.05 |
Previous Weekly High | 23.52 |
previous weekly low | 22.16 |
Previous Monthly High | 24.64 |
Previous monthly minimum | 20.42 |
Fibonacci daily 38.2 | 23.28 |
Fibonacci 61.8% daily | 23.19 |
Daily Pivot Point S1 | 23.12 |
Daily Pivot Point S2 | 22.9 |
Daily Pivot Point S3 | 22.75 |
Daily Pivot Point R1 | 23.49 |
Daily Pivot Point R2 | 23.64 |
Daily Pivot Point R3 | 23.86 |
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.