XAG/USD Price Analysis: Technical outlook
On Tuesday, Silver’s pullback dragged prices toward the January 2 high and turned support at $24.09. If sellers retain control in the near term and push prices below the latter, that would expose the $24.00 figure. Once cleared, XAG/USD would extend its losses toward the January 12 high at $23.52.
On the other hand, if buyers keep Silver’s spot prices above $24.09, look for range-bound trading within the $24.00-$24.70 area. The next resistance would be the $25.00 figure, followed by last year’s high at $25.91
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