Fri, Mar 24, 2023 @ 22:38 GMT

XAG/USD seeks floor

Silver plunges as Treasury yields and the US dollar leap forward post-NFP. The metal was struggling to sustain its momentum in the major supply zone around 24.50 despite another tentative breakout. The lengthy choppy action at the top was a sign of indecision and a fall below 23.40 prompted the bulls to exit. The liquidation below the critical floor at 23.00 suggests that the path of least resistance has turned south. The round number 22.00 is next to see if buying interest would show up with 23.20 as the first hurdle.

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