XAGUSD Watching The Range

Silver is attempting to recover back towards the $26.00 resistance level as selling interest below the $25.00 area is currently lacking. The short-term analysis shows that the next large short-term move in silver could come once the $25.50 to $26.40 price range is breached. A bearish head and shoulders pattern will either be activated below the $25.50 level or invalidated above the $26.40 level.

XAGUSD is only bullish while trading above the $26.00 level, key resistance is found at the $26.40 and the $27.30 levels.

If XAGUSD trades below the $26.00 level, sellers may test the $25.50 and $24.60 support levels.

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