Tue, Jan 31, 2023 @ 16:26 GMT
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XAG/USD Struggles for Support

Silver falls back as the dollar extends sharp gains across the board. A bearish RSI divergence showed a slowdown in the rally. After a double top at the psychological level of 24.00, the first wave of profit-taking took the price below 23.20, putting the bulls on the defensive. The next round number 22.00 coincides with the base of a previous breakout and the 30-day moving average, making it an area of particular interest. Its breach could trigger a deeper correction to 21.00. 23.50 has become a fresh hurdle.

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