Silver (XAG/USD) is currently trading at $29.16, marking a 0.30% increase. The pivot point is $29.08, indicating a crucial level for upcoming movements. Immediate resistance levels are set at $29.81, $30.14, and $30.62. On the downside, support levels are identified at $28.75, $28.37, and $27.99.
The 50-day Exponential Moving Average (EMA) is at $29.93, while the 200-day EMA is at $29.48, both indicating resistance zones. Technical indicators suggest a bearish outlook below $29.85. A break above this level could signal a bullish trend.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.