Silver (XAG/USD) is trading at $27.06, reflecting a 0.84% increase. The current pivot point is $27.50, indicating a critical threshold for market direction. Immediate resistance is at $28.08, with further levels at $28.60 and $29.15.
Support levels are positioned at $26.64, $26.15, and $25.63. The 50-day EMA stands at $28.02, while the 200-day EMA is at $29.07, suggesting a bearish outlook. The market is bearish below $27.50, but breaking above this level could enhance bullish sentiment.
Arslan is a finance MBA and also holds an MPhil degree in behavioral finance. An expert in financial analysis and investor psychology, Arslan uses his academic background to bring valuable insights about market sentiment and whether instruments are likely to be overbought or oversold.