XAG/USD Technical Analysis

XAG/USD Technical Analysis 25.10.2023

Silver, along with Gold, seems to exhibit almost the same movements. Although it broke its trend structure from September 2022 in recent days, it appears to be back in the trend. It seems to have been rejected from the previous year's opening price. The first support area could be at 22.70. If the upward movement continues, the initial target would be to break above the previous year's opening level, which is 23.31. Following that, we might see a rise towards the annual opening price, which is at 23.97. If there is a strong pullback downwards, we could test the 21.50 level.