Silver is having volatile times since the start of the year. FED’s tightening talks, then the Ukraine war cause the price to rollercoaster, but mostly positive for XAGUSD. Silver got 1 short and 1 medium-term uptrends YTD. Both of them use 200 hours moving average as the main support.
Now the trend is changing. After the second trend which took half a month, the 200 hours moving average has been acting mostly as a resistance. The moving average is at 24.92 at the moment. Around 25 is also a horizontal resistance. The 24.90-25 zone will be key for short-term direction. Unless broken, the low-angle downtrend may extend further to the downside.
