FX.co ★ lstanton | XAG/USD, SILVER

SILVER (H1) is trading above the day's opening level of 79.07 and below the daily Pivot level of 79.99. Key indicators are bearish, and the price is below the 72-period moving average trend line, where volume unloading usually occurs. A price increase above 79.07 will allow the price to move towards the level of 80.00 or even higher towards 81.00 and beyond. Below the 79.07 level, the pair will head south towards the level of 78.10 and may even go lower to 77.00. The pair is trading below the monthly Pivot level of 83.97 (previous 92.77), below the weekly Pivot level of 83.29, and below the daily Pivot level, indicating a bearish sentiment for the pair. At the current moment of this session, the day's opening level is 79.07. The first resistance is at 80.00, and the first support is at 78.10.