The post XAG/USD plummets below $33.00 as Dollar rebounds, weekly losses near 2% appeared on BitcoinEthereumNews.com.

Silver poised to end week down over 1.80% as strong Dollar pressures metals. Bearish harami pattern and soft RSI suggest downside bias could accelerate. Key support lies at $32.70 and 50-day SMA; upside capped by $33.69 and $34.00. Silver price turned negative on Friday during the North American session, poised to end the week with losses of over 1.80% as the dollar staged a recovery during the day. XAG/USD trades at $32.87, down 1.29%. XAG/USD Price Forecast: Technical outlook Silver price trade subdued but formed a ‘bearish harami’ candle chart pattern with bearish implications. Momentum appears to be shifting in favor of sellers, as the Relative Strength Index (RSI) has reached a lower trough at RSI’s neutral line, which, if cleared, could signal that the grey metal is poised for a leg lower. If XAG/USD remains below $33.00, the next support to breach would be a May 29 swing low of $32.70. In that outcome, the next test would be the 50-day Simple Moving Average (SMA) at $32.68, followed by a test of the 100-day SMA at $32.11 and the 200-day SMA at $31.40. However, buyers stepping in and cleared $33.00 look for a leg up towards $33.69, which could pave the way for a challenge of $34. On further strength, XAG/USD’s next resistance level would be the March 26 high at $34.58, followed by $35.00. XAG/USD Price Chart – Daily Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such…

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Filed under: News - @ May 31, 2025 5:26 pm