XAG/USD Technical Analysis: Silver Surges Above 30 SMA Toward Key $60 Level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Following a V-shaped recovery from its low near 55.05, XAG/USD has demonstrated strong bullish momentum by surging above its 30-period SMA (56.915) to trade near 58.893. The sharp breakout above former resistance at 57.75 indicates aggressive buying interest, opening the path for a retest of the major high at 59.900. However, if price faces exhaustion at current levels, a minor pullback toward the 57.75 support or the 30 SMA near 57.05 may occur before buyers attempt another upward push.





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