The price of silver has been trading sideways after hitting a daily high of $23.39. The XAG\/USD price analysis suggests that in the short term, it might test $24.00 once it reclaims $23.50; otherwise, it would consolidate.
The silver price has consolidated for the fourth straight day after hitting a weekly high of $23.52. However, the white metal faces solid resistance and trades sideways on Wednesday. At the time of typing, the XAG\/USD is trading at $23.32 for a gain of 0.40%.
On Wednesday, the XAG\/USD failed to sustain the early break above March\u2019s 28 high of $23.37, which would open the door to test the week\u2019s low at $22.83 once sellers break the $23.00 psychological level. That would open the door for a leg down, and if the XAG\/USD tumbles below the former, that could exacerbate a test of the 20-day Exponential Moving Average (EMA) at $22.32.
On the flip side, with Silver\u2019s buyers cracking $23.50, upside risks would lie at $24.00, followed by a test of the YTD high at $24.63.
In the short term, the XAG\/USD 4-hour chart portrays the white metal as neutral to upward bias, and it might test $23.50 soon. A breach of the latter will clear the path to test higher pivot points like #2 at $23.70 before assaulting R3 at $24.04.<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of silver has been trading sideways after hitting a daily high of $23.39. The XAG\/USD price analysis suggests that in the short term, it might test $24.00 once it reclaims $23.50; otherwise, it would consolidate. The silver price has consolidated for the fourth straight day after hitting a weekly high of $23.52. However, …<\/p>\n","protected":false},"author":13,"featured_media":48714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7027],"class_list":["post-82136","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-silver"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/82136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=82136"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/82136\/revisions"}],"predecessor-version":[{"id":82143,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/82136\/revisions\/82143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/48714"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=82136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=82136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=82136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}