Silver’s advancement paused on Thursday, as the grey metal posted minuscule losses of 0.04%, exchanging hands virtually unchanged.
Silver trades at $29.60, posting slight losses of 0.04% amid mixed US economic data. Technical outlook shows a ‘doji’ pattern, signaling indecision among traders. Silver must stay above $29.00 to challenge the YTD high of $29.79 and further resistance levels at $32.15 and $35.40. Jobs data, along with mixed housing data and the lack of strength in the manufacturing and industrial sectors, boosted US yields and the Greenback. Therefore, the grey metal dropped and traded at $29.
A breach of the latter will pave the way to challenge the February 2013 high of $32.15, followed by the October 2012 high of $35.40. Conversely, sellers must drag Silver’s price below the $29.00 figure. In that outcome, the pullback could reach the May 18, 2021, high turned support at $28.75, followed by the $28.00 mark. Further losses lie below the latter, with key support seen at $27.00. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 29.63 Today Daily Change -0.
XAGUSD Metals Technical Analysis Silver
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