XAG/USD drops 0.59% to $68.52 after failing to hold above the $70.00 resistance level, testing the 100-day SMA.
Silver prices fell 0.59% on Monday, reversing from a peak of $69.92 as buyers struggled to maintain momentum above $70.00. XAG/USD now trades at $68.52, nearing the 100-day Simple Moving Average at $68.42.
The metal’s uptrend remains intact, supported by a bullish Relative Strength Index and a pattern of higher highs and lows. However, bulls must reclaim $70.00 to target the 200-day SMA at $72.13, with further resistance at $78.83.
Downside support lies at the 100-day SMA, followed by $65.64 and $62.19 if the decline accelerates.