Silver (XAG/USD) Price Forecast: Technical Outlook
Silver – Chart
Silver (XAG/USD) prices have declined to $27.71, reflecting a 0.30% drop. The 4-hour chart identifies a pivot point at $28.06, serving as a crucial level. Immediate resistance levels are $28.57, $28.96, and $29.46. On the downside, support levels are at $27.42, $26.96, and $26.54.
The 50-day EMA is at $29.24, and the 200-day EMA is at $29.76, indicating a bearish trend. The downward trendline is expected to keep silver bearish below $29, with the pivot point at $28, adding more selling pressure. The outlook remains bearish below $28.06.
