XAG/USD prices are softly back on Monday in a relief pullback from Friday's peak into $22.82. While bullish momentum saw a boost for spot Silver on th
Silver prices are seeing a minor pullback for Monday, after Friday's peak into $22.82 failed to spark an extended rally. XAG/USD is seeing softening bids at the descending trendline from $25.00. Spot Silver prices are tracking the US Dollar closely, traders will be looking for a pattern breakdown. e back of an escalation of the Israel-Hamas conflict last week, Silver's deep bear rout from August's peaks at the $25.00 handle are constraining metal bulls.
XAG/USD Technical Outlook Silver's Friday peak saw XAG/USD bids ping off a descending trendline drawn from August's peak at the $25.00 major handle, marking in a potential swing high at $22.82 if bearish action sees a continuation. On the top side, the 50-day Simple Moving Average is capping off near-term action from $22.90, and has confirmed a bearish crossover of the 200-day SMA, currently parked just north of $23.25.
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