Silver regains positive traction following the previous day's modest fall and climbs to over a one-week high during the early part of the European ses
Silver catches fresh bids on Wednesday and advances to over a one-week high. The technical setup warrants some caution before positioning for further gains. A sustained move beyond $22.20-30 will be seen as a positive trigger for bulls. sion on Wednesday. The white metal currently trades just above the $22.00 mark, up nearly 1% for the day, and looks to build on the recent goodish recovery move from a seven-month low touched last week.
80 zone now seems to protect the immediate downside ahead of the overnight swing low, around the $21.65-$21.60 region. Some follow-through selling could drag the XAG/USD back towards a multi-day-old trading range resistance breakpoint, now turned support, around the $21.3-$21.30 region. The next relevant support is pegged near the $21.00 round-figure mark. A convincing break below the latter will expose the $20.70-$20.
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