XAG/USD falls from multi-day high; bullish technical setup
Over $24.00, silver finds it difficult to take advantage of its small intraday gains. The technical configuration favors bullish traders and enhances the likelihood of future gains.
A decisive breach below the $23.00 level is required to disprove the optimistic view. On the opening day of a new week, silver builds on Friday’s ok-ish recovery from around the $23.00 level and adds some follow-through impetus. While retreating from a three-day high reached during the first part of the European session, the white metal finds it difficult to gain acceptance above the $24.00 round number.
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