- Silver is trying to recover, but is waiting for new momentum in the next direction.
- The XAG / USD hovers between the 21 and 50 day SMAs.
- The daily RSI is flat at the midline, suggesting a lack of clear direction.
The plata (XAG / USD) it recovers half of Friday’s slide, although it remains below the $ 27 level, while the bulls appear to lack a continuation bullish bias.
The bears are struggling hard to regain control after last week’s $ 2 selloff from the $ 28.20 level, with no clear direction in sight, as the tug of war appears to extend over the next session.
Silver daily chart
The white metal has managed to regain the critical 50-day simple moving average at $ 26.47, but the recovery remains limited below the 21-day SMA at $ 27.24.
The XAG bulls need a firm break above the 21-day SMA barrier to extend the recovery from the three-week lows of $ 26.14 reached last Friday.
The next critical barrier is at the psychological level of $ 27.50.
On the other hand, if the support of the 50-day SMA gives way once again, the multi-week lows could be retested.
Further lower, support of the 100-day SMA at $ 25.37 could come into play.
The 14-day RSI is moving at the midline, suggesting a lack of clear directional bias,
Silver additional levels
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