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Silver holds near $69 as XAG/USD stays bullish below $70
XAG/USD is trading near the $69 area after a breakout above the $66.65 to $66.70 resistance zone and a move that kept the 4-hour 200-period SMA supportive.
Silver (XAG/USD) moved in and out of modest gains around the $69 level through the Asian session on Monday, while remaining close to the two-month high near $70 that it touched on Friday, FXStreet reports.
The outlook stays near-term bullish after last week’s breakout above the $66.65 to $66.70 horizontal resistance area and the 38.2% Fibonacci retracement of the May-July decline, with the metal holding above the 200-period simple moving average on the 4-hour chart, FXStreet said.
Oscillators support the move but also point to potential slowing, with the MACD marginally positive and the RSI near 66, suggesting strong buying pressure approaching overbought territory.
If silver extends higher, FXStreet flags resistance starting at the 50.0% retracement at $71.95, then $76.08 at the 61.8% level, while nearer support sits at the 38.2% retracement of $67.81, followed by $62.70 and the 200-period SMA at $60.93.
(The technical analysis of this story was written with the help of an AI tool.)
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