Silver Price Analysis: XAG/USD Keeps Bounce Off 100-DMA Above $24.00 To Favor Bulls: (SI) Is 7% Up In The Last 10 Sessions

(VIANEWS) - Silver Price (XAG/USD) picks up bids to $24.30 as it defends the previous day's rebound from the 100-DMA amid the early hours of Monday's Asian trading session. FXStreet reported that in addition to the XAG/USD's U-turn from the 100-DMA, the bullish MACD signals and firmer RSI (14), not overbought, also underpin bullish bias about the bright metal. However, a horizontal area comprising multiple levels marked since January 2023, close to $24.50, appears a tough nut to crack for the Silver buyers. Silver (SI) has been up by 7.88% for the last 10 sessions. At 08:51 EST on Monday, 28 August, Silver (SI) is $24.22.

Silver price analysis: xag/usd keeps bounce off 100-dma above $24.00 to favor bulls

Overall, the Silver price remains on the buyer's radar even if the upside road remains long and bumpy., However, a horizontal area comprising multiple levels marked since January 2023, close to $24.50, appears a tough nut to crack for the Silver buyers.

Volume

Today's last reported volume for Silver is 10866, 99.99% below its average volume of 12152352817.03.

Volatility

Silver's last week, last month's, and last quarter's current intraday variation average was 1.16%, 0.28%, and 1.17%, respectively. Silver's highest amplitude of average volatility was 1.53% (last week), 1.01% (last month), and 1.17% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Silver's commodity is considered to be oversold (<=20). More news about Silver (SI).