Silver Price Forecast: XAG/USD falls below $72.50 on US strikes in Iran, bearish technical signals
Technical Analysis: In the daily chart, XAG/USD holds well below the 100-day simple moving average (SMA) and the Bollinger Bands 20-day SMA near, keeping the near-term bias bearish despite the recent bounce off lower levels. The Relative Strength Index (RSI) at 41.76 sits below the neutral 50 line, hinting at lingering downside pressure rather than a decisive recovery. On the topside, initial resistance emerges at the Bollinger 20-day SMA around $77.95, followed by the May 25 high of $78.83. The next hurdle to watch is the 100-day SMA at $81.30, with the upper Bollinger band near $86.86 acting as a more distant cap if a short-covering rally extends. On the downside, the next notable cushion is the low of April 30 of 71.22, followed by the 70.00 psychological level. The next contention level is seen at the lower Bollinger band at roughly $69.00, where a break would expose further weakness toward lower, uncharted support zones on the daily scale. Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or