Silver (XAG/USD) is currently trading at $27.37, down by 0.13% on the day. The 4-hour chart shows a pivot point at $27.27, which is a key level to watch. Immediate resistance levels are set at $27.96, followed by $28.60 and $29.15. On the downside, support is identified at $26.45, with further support at $25.95 and $25.38.
The 50-day Exponential Moving Average (EMA) is currently at $27.65, while the 200-day EMA is higher at $28.78. Silver’s bearish momentum below the $27.27 pivot point suggests potential for further declines if this level is breached.
Silver remains bearish below $27.27, but a break above this level could shift the bias back to bullish.
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.