FX.co ★ Silver further growth activated

XAG/USD Upside Reversal!

The price of silver registered a strong growth in the short term after failing to reach and retest the downtrend line. It was traded at 21.957 level at the time of writing versus 21.340 today's low.

After jumping above the downtrend line, XAG/USD was somehow expected to grow. Still, after its last swing higher, the rate retreated a little trying to attract more buyers. Personally, I've drawn an uptrend line, so as long as it stays above this line, Silver could continue to grow.

Silver Trading Conclusion!

21.813 former high represented an upside obstacle. Breaking above this level signals potential further growth and could represent a buying opportunity.