Abstract：Silver (XAG/USD) prices struggle to extend the previous day‘s gains, despite a bullish moving average crossover, around $25.20-30 during Tuesday’s Asian session.
Silver prices retreat after an upbeat start to the week.
Golden cross, firmer RSI favor bulls, 10-DMA guards immediate upside.
Ascending support line from early February acts as the key support.
The bright metal justifies the 50-DMAs run-up through the 200-DMA, known as a golden cross, on Monday but the bulls seem to need validation from the 10-DMA level of $25.35. Also challenging the upside momentum are the bearish MACD signals.
Even so, firmer RSI and the commoditys ability to stay beyond an upward sloping trend line from February 03, around $24.80 at the latest, keep XAG/USD bulls hopeful.
That said, the March 10 high around $26.10 acts as an additional upside filter past the 10-DMA, a break of which will allow the bulls to challenge the monthly peak of $26.95.
Meanwhile, a downside break of the aforementioned support line, near $24.80, will defy the latest bullish moving average crossover and can direct the quote towards the month low around $24.30.
Following that, the 50-DMA and the 200-DMA, near $24.10 and $24.00 in that order, will challenge the silver bears.
Silver: Daily chart
