Bears have occupied today’s trading mood of XAG/USD.
In the early trading hours silver broke the resistance at $20.65 and pushed
higher to mark intraday high at $20.703. Then direction turned to downside and
currently is hovering around $20.40 area.
If closing above $20.65, bulls will try just a little for a few dollars more.
Next resistance levels are seen at $20.80 and $21.12.
On the other hand, if closing below $20.35, XAG/USD pair would be dragged to
support levels at $20.05, $19.94 and $19.16.
Meanwhile the 20, 30 and 55 day EMAs are streaming upwards noisier to underline
the bullish sound. So the current downward blue mood should be considered only
as a short-term correction.
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