#XAGUSD @ 24.927 Silver prices show hesitation near YTD highs amidst market uncertainty. (Pivot Orderbook analysis)

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• Silver prices show hesitation near YTD highs amidst market uncertainty.
• Oscillators flashed mixed signals, keeping XAG/USD traders at bay.
• XAG/USD Price Analysis: Upside risks at around $25.12; otherwise, it could fall towards $24.00.

The pair currently trades last at 24.927.

The previous day high was 25.14 while the previous day low was 24.64. The daily 38.2% Fib levels comes at 24.83, expected to provide support. Similarly, the daily 61.8% fib level is at 24.95, expected to provide resistance.

Silver price registers back-to-back doji’s at around the YTD highs hit at 25.13 but stays shy of the $25.00 a troy ounce figure. At the time of writing, the XAG/USD is trading at 24.95 after hitting a daily high of $25.00.

Buyers and sellers of the white metal, also known as Silver, are undecided according to the XAG/USD’s price action during the last couple of days. The Relative Strength Index (RSI) shifted overbought since the beginning of the week, flashing that buying pressure would fade soon. The Rate of Change (RoC) signals buyers remain in charge, but they must reclaim the YTD high at $25.13 before posing a threat to test the last year’s high at $26.95.

For a bullish resumption, XAG/USD needs a daily close above $25.00. That would open the door to testing the YTD high at $25.12, followed by $25.87, April’s 14 high. The following resistance would be $26.00, followed by the April 18 cycle high of $26.21.

If XAG/USD prints a daily close below $25.00, it could exacerbate a test of February’s 25 cycle high at $24.62. Once cleared, the white metal could drop to test a previous resistance trendline turned support at around $24.25-40 before diving towards $24.00.

Technical Levels: Supports and Resistances

XAGUSD currently trading at 24.92 at the time of writing. Pair opened at 24.94 and is trading with a change of -0.08 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 22.81, 50 SMA 22.27, 100 SMA @ 22.68 and 200 SMA @ 21.09.

The previous day high was 25.14 while the previous day low was 24.64. The daily 38.2% Fib levels comes at 24.83, expected to provide support. Similarly, the daily 61.8% fib level is at 24.95, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 24.67, 24.41, 24.18
• Pivot resistance is noted at 25.17, 25.4, 25.66

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