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XAG/USD Price Forecast: Technical outlook XAG/USD sits $1.50 shy of resting the yearly high after retreating below the 20-day Simple Moving Average (SMA) to test the 50-day SMA at 36.20 on July 31. Since then, Silver has rallied more than 6%, sparked by the formation of a ‘bullish harami,’ confirmed by the crucial breach of the July 31 high of $37.26. The grey metal climbed sharply and cleared the 20-day SMA at $38.06, further cementing its upward bias. However, buyers need to breach the $39.00 so they can test the YTD high of $39.52, before challenging $40.00. On the flip side, although momentum is bullish, confirmed by price action and the Relative Strength Index (RSI), traders could not price out a reversal. If Silver dives below the 20-day SMA and $38.00, then sellers could pile on to push prices toward $37.00, aimed to test the 50-day SMA at $36.85.
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etheriium today All Finance News Images Short videos Videos Web Forums Books Search tools Feedback Market Summary > Ether 1,147,577.29PKR +38,453.76 (3.47%)today 8 Aug, 6:54 pm UTC · Disclaimer
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