Thu, May 06, 2021 @ 01:44 GMT
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XAG/USD Recovers From Key Support

Lower treasury yields have made the non-yielding metal more attractive, right when buyers bid up the price from its daily support level (24.80).

Following the previously mentioned RSI divergence, an indication of a potential reversal, silver saw a limited drop then rallied above the first resistance of 26.20.

After a brief consolidation, the price could rise towards the next target around 27.00 as long as it stays above 25.60.

To the downside, 24.80 is critical in keeping the bullish sentiment intact.

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