XAGUSD traders witnessing a battle between bulls and bears close to the 22 support. Silver was priced below the 22 from 2013 to 2020. After the 2020 breakout pricing range change to 22 -30 zone. The major resistance of 2013-2020 is now working as a support. Silver tested this support only 4 times until late September and all of the tests end with massive up moves. But for the last 10 days, bears are pressing more, and finally, the price made a daily close below the 22 but returned back to over the support.
Today’s weekly bar close may become highly important for the medium to long-term direction. But for bulls to take a breather, silver must break the ongoing downtrend.
