Silver price trims some of its losses from last Friday, yet it remains under pressure as US Treasury bond yields along the short and long end of the curve rise.
Silver recovers to $29.74, up from $29.14 low, yet remains under the $30.00 threshold. Double top pattern hints at possible further declines; first support seen at $29.00. Closing above $30.05 might test upper resistance, although current trends suggest continued price pressure. The XAG/USD trades at $29.74, gains some 2% after bouncing off daily lows of $29.14, still below the $30.00 a troy ounce value.
Up next would be the ‘double top’ objective at $27.80. Conversely, if XAG/USD aims upwards and registers a daily close above $29.00, that would pave the way to challenge the May 24 low, turning resistance at $30.05; buyers are struggling to reclaim $30.00, paving the way for further downside. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 29.75 Today Daily Change 0.58 Today Daily Change % 1.99 Today daily open 29.17 Trends Daily SMA20 30.54 Daily SMA50 28.
XAGUSD Metals Technical Analysis Silver
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