See also
23.05.2025 05:27 PM
Silver is regaining positive momentum, maintaining control above the key psychological level of $33.00. The emergence of buying on declines confirms that this week's breakout above the upper boundary of a nearly month-long range can be seen as a bullish trigger. Moreover, oscillators on the daily chart have begun to turn positive, supporting the short-term outlook for further gains in the XAG/USD pair.
Additional buying beyond the $33.70 resistance—this month's high and a level last seen in April—would confirm the bullish trend, allowing the white metal to target the key psychological level of $34.00. A continued upward move has the potential to push XAG/USD toward the yearly high.
On the other hand, weakness below the $32.00 level could be viewed as a buying opportunity, but such interest would likely be limited to the $32.60 level, which serves as a key support level. A decisive break below this area would expose the 100-day Simple Moving Average (SMA), currently positioned just above $32.00. Further downside pressure could make XAG/USD vulnerable to testing the $31.40 level. A clear break below this level would invalidate the bullish outlook, shifting the short-term bias in favor of the bears.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
