The price of silver has staged a major technical pullback after finding strong early-week resistance from the psychological $30.00 level. Traders that are bullish towards silver may look for the metal to head towards the $27.00 support level before initiating buy positions. Overall, silver has a strong short-term bullish trading bias while trading above the $28.40 support level.
XAGUSD is only bullish while trading above the $28.40 level, key resistance is found at the $29.40 and the $30.00 levels.
If XAGUSD trades below the $28.40 level, sellers may test the $27.40 and $27.00 support levels.
