Silver's price tumbled on Friday’s session after refreshing three-year highs reached in February 2021.
Silver pulls back sharply from its highest point since February 2021, suggesting the rally might be overextended. If it breaks below key supports at $28.28 and $28.00, further declines to $27.54 and $27.00 could occur. A recovery above $28.00 could reignite bullish sentiment, aiming for previous highs and resistances. Silver 's price tumbled on Friday’s session after refreshing three-year highs reached in February 2021. The grey metal peaked at $29.79 before plunging close to $2.00.
Further losses are seen on May 5, 2023, with high turned support at $26.12. On the other hand, strong bullish momentum remains, and if buyers reclaim $28.00, that could be put back into the table, the continuation of the rally. The first supply zone would be June 10, 2021, high at $28.28, before testing May 18, 2021, at $28.74. Once surpassed, the next stop would be the year-to-date high at $29.79. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 27.88 Today Daily Change -0.
XAGUSD Metals Technical Analysis Silver
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