XAG/USD bulls seem reluctant below $37.00; downside remains limited
The post XAG/USD bulls seem reluctant below $37.00; downside remains limited appeared on BitcoinEthereumNews.com.
Silver consolidates just below its highest level in more than two weeks set on Thursday. The mixed technical setup warrants some caution before placing fresh directional bets. Any corrective slide might still be seen as a buying opportunity and remain cushioned. Silver (XAG/USD) holds steady below the $37.00 mark during the Asian session on Friday and remains within striking distance of over a two-week high touched the previous day. Meanwhile, the constructive technical setup suggests that the path of least resistance for the white metal remains to the upside. The daily Relative Strength Index (RSI, 14) remains above 50 and validates the positive outlook for the XAG/USD. However, the Moving Average Convergence Divergence (MACD) histogram and the signal line on the daily chart are yet to confirm bullish bias, suggesting that any subsequent move up could stall near the $37.30-$37.35 region, or the highest level since February 2012 touched earlier this month. Some follow-through buying, however, would set the stage for an extension of a nearly three-month-old uptrend. On the flip side, the $36.50-$36.45 area now seems to protect the immediate downside, below which the XAG/USD could slide to the $36.15-$36.10 region. A further decline below the $36.00 mark could extend towards the $35.50-$35.40 horizontal zone. The latter should act as a key pivotal point and a convincing break below would shift the near-term bias back in favor of bearish traders. The white metal might then accelerate the corrective fall towards the next relevant support near the $35.00 psychological mark. Some follow-through selling below the latter should pave the way for deeper losses and drag the XAG/USD to an intermediate support near the $34.75 en route to the $34.45 region. Silver 4-hour chart Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as…
Filed under: News - @ July 4, 2025 6:29 am