FX.co ★ lstanton | XAG/USD, SILVER

SILVER Silver (H1) is trading above the day's opening level of 73.81 and below the daily Pivot level of 74.94. The main indicators show a bearish trend, and the price is below the MA72 trend line, where volume unloading usually occurs. A price increase above the 74.20 level will allow the price to move towards the level of 74.89 or even higher to the level of 74.94 and above. Below the 74.20 level, the pair will head south towards the 73.81 level and may even go lower to 72.57 and below. The pair is trading below the monthly Pivot level of 77.47 (previous 83.97), near the weekly Pivot level of 74.20, and below the daily Pivot level, indicating a corrective sentiment for the pair. At the moment, the weekly Pivot level of 74.20 remains a fork in this session. The first resistance is at 74.89, the first support is at 73.81.