- XAG / USD is consolidating near the $ 24.80 level.
- Additional gains are likely if the XAG / USD manages to break above $ 25.00.
- The positive MACD hints at a bullish bias.
XAG / USD is hovering near the $ 24.80 level at the start of the European session on Tuesday. Prices have shown some resistance near the daily lows around $ 24.65.
At the time of writing, the XAG / USD is trading at 24.86, up 0.16% on the day.
On the four-hour chart, the 50-period simple moving average continues to act as a dynamic resistance in the $ 25.00 region, which coincides with the downward sloping line.
A sustained breakout above this region would point to a first hurdle test near the $ 25.25 horizontal resistance zone. Subsequently, the white metal could target Thursday’s high near the $ 25.60 region.
Higher up, the next barrier is at the March 22 highs near the $ 25.80 level.
The MACD indicator remains above the midline, and a cross to the upside reinforces the bullish bias.
On the other hand, if prices break below the confluence support near $ 24.60, the April 1 lows near $ 24.30 could be tested. Lower down, the bears could look for support around $ 24.00, followed by the monthly lows of $ 23.75.
Silver 4 hour chart
Silver additional levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
