FX.co ★ lstanton | XAG/USD, SILVER

(H1) is trading above the day's opening level of 57.61 and near the daily Pivot level of 58.46. 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 level of 58.46 will allow the price to move towards the level of 59.01 or even higher towards the level of 60.50 and above. Below the level of 58.46, the pair will move south towards the level of 57.60 and may even go lower to 56.02 and below. The pair is trading below the monthly Pivot level of 78.80 (previous 75.30), below the weekly Pivot level of 66.48, and near the daily Pivot level, indicating a bearish sentiment for the pair. The current pivot level for this session is 58.46. The first resistance is at 59.01, the first support at 57.61.