Contributors Technical Analysis XAG/USD Hovers Under Major Resistance

XAG/USD Hovers Under Major Resistance

Bullions prices grind higher as the US dollar remains under pressure. The recovery accelerated after silver broke above the daily resistance at 26.60.

28.30 is a major hurdle ahead and a bullish breakout could extend the rally towards 30. Though an overbought RSI would suggest a potential retreat to attract more buying interest.

The resistance-turned-support 27.10 is the first level to monitor. Further down, the demand zone between 26.15 and 26.56 is key in keeping the upward bias intact.

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