Silver recovered some ground on Wednesday as US Treasury bond yields plunged due to weaker-than-expected US jobs data.
Silver climbs to $29.98, gaining 1.69%, supported by weaker-than-expected US jobs data. Technical outlook shows a double top pattern, indicating potential for further losses. Key levels to watch: Resistance at $30.05; support at $29.79, $29.00, $28.74, $28.34, and the double top objective at $27.80. At the time of writing, the XAG/USD trades at $29.98 and gains 1.69%.
A breach of the latter will expose previous key resistance levels that turned support, like the May 18, 2021, high of $28.74, followed by the June 10, 2021, high of $28.34. Up next would be the ‘double top’ objective at $27.80. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 30 Today Daily Change 0.50 Today Daily Change % 1.69 Today daily open 29.5 Trends Daily SMA20 30.21 Daily SMA50 28.35 Daily SMA100 25.84 Daily SMA200 24.55 Levels Previous Daily High 30.
XAGUSD Metals Technical Analysis Silver
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