XAG / USD bears preparing for a move towards $ 25

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  • Silver causes a rectangular break in the clubs per hour.
  • Retail shopping frenzy cools, CME’s 18% margin weighs in.
  • XAG has a $ 25 eye amid a bearish RSI.

La plata (XAG / USD) is seeing the “sell the bounce” strategy in play so far this Thursday, as the bulls continue to face rejection on each attempt to win back $ 27.

The bears are yearning for acceptance below the critical support of the horizontal trend line at $ 26.30, which would then confirm a breakout of the rectangle on the hourly chart.

Silver Price Chart: Hourly

The break to the downside could open room for a test of the target measured near $ 25.30, below which the $ 25 level could come into play.

The Relative Strength Index (RSI) is heading south below the midline, currently trading at $ 38.85, indicating there is more room to the downside.

Alternatively, recovering the 200 hourly moving average (HMA) at $ 26.51 would lead the XAG bulls to assume the HMA – 21 barrier at $ 26.74.

The next crucial hurdle awaits at $ 26.86, where the bearish HMA – 100 lies.

Additional levels of silver

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