#XAGUSD @ 19.536 Silver price grinds higher as buyers attack short-term key hurdle amid impending bullish moving average cross., @nehcap view: Further upside expected (Pivot Orderbook analysis)

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• Silver price grinds higher as buyers attack short-term key hurdle amid impending bullish moving average cross.
• Sustained bounce off 38.2% Fibonacci retracement, firmer RSI keep buyers hopeful.
• 61.8% Fibonacci retracement level, monthly high also tests further upside.

The pair currently trades last at 19.536.

The previous day high was 19.62 while the previous day low was 18.78. The daily 38.2% Fib levels comes at 19.3, expected to provide support. Similarly, the daily 61.8% fib level is at 19.1, expected to provide support.

Silver price (XAG/USD) seesaws around $19.50 as buyers attack immediate resistance amid a looming bullish crossover during Tuesday’s Asian session. In doing so, the metal prices defend the previous day’s rebound from the 200-SMA while trying to keep buyers hopeful.

Successful trading beyond the key SMAs join firmer RSI (14), not overbought, to favor XAG/USD bulls as they attack one-week-old resistance around $19.60 by the press time.

As the 50-SMA inches closer to piercing the 200-SMA from below, the bulls are bracing for an upside past the immediate resistance. However, the monthly high near the $20.00 psychological magnet will be an extra challenge for the silver buyers to tackle before retaking control.

Following that, the previous monthly peak surrounding $20.90 and the $21.00 threshold will be in focus.

Alternatively, pullback moves need not only decline below the 200-SMA level surrounding $19.30 but should also remain below the $19.20 support comprising the 50-SMA to tease XAG/USD sellers.

Even so, the 38.2% Fibonacci retracement level of the August-September downside, near $18.80, could challenge the silver price downside.

Trend: Further upside expected

Technical Levels: Supports and Resistances

XAGUSD currently trading at 19.53 at the time of writing. Pair opened at 19.57 and is trading with a change of -0.20% % .

The pair is trading above its 20 Daily moving average @ 18.8, above its 50 Daily moving average @ 19.25 , below its 100 Daily moving average @ 20.34 and below its 200 Daily moving average @ 22.13

The previous day high was 19.62 while the previous day low was 18.78. The daily 38.2% Fib levels comes at 19.3, expected to provide support. Similarly, the daily 61.8% fib level is at 19.1, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 19.03, 18.49, 18.19
• Pivot resistance is noted at 19.87, 20.17, 20.71

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