Silver Price Forecast: XAG/USD Steadies Near $36.60 Up Over 1.80% Weekly

Silver, Bars, 5000 Grams, Real Value

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Silver price turns flat as Friday’s Asian session begins, trades near $36.60, virtually unchanged, compared to Thursday’s June 26 daily close. The XAG/USD appears poised to close the week with gains of over 1.80%.


XAG/USD Price Forecast: Technical outlook

Silver remains upward biased as Friday’s Asian session begins, posting back-to-back bullish days, which pushed the grey metal towards a weekly high of $36.83. XAG/USD has achieved a successive series of higher highs and higher lows, hinting that the grey metal is headed upwards.

The Relative Strength Index (RSI) turned flatlines after edging higher for three consecutive days, in bullish territory. This indicates that buyers are taking a respite ahead of testing higher prices.

If XAG/USD climbs past $37.00, look for the next resistance at the yearly peak of $37.31. A breach of the latter will expose the $38.00 figure. Conversely, if Silver slides below $36.50, expect a test of $36.00. Further downside lies in the June 24 daily low of $35.68, followed by the latest cycle low of $35.29.


XAG/USD Price Chart – Daily 

(Click on image to enlarge)


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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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