XAG/USD climbs 0.55% to $68.86, recovering from a three-day low of $67.43 as momentum shifts bullish.
Silver prices rebounded on Tuesday, erasing earlier losses after dipping below the 100-day Simple Moving Average (SMA) at $68.38. The metal hit a three-day low of $67.43 before reversing course, trading at $68.86, up 0.55% for the session.
The short-term outlook remains tilted upward, though the broader trend still reflects lower highs and lows. The Relative Strength Index (RSI) suggests further gains, but resistance looms at the 200-day SMA of $72.22. A break above $70.00 could propel prices toward $75.00, with $80.00 as the next target.
Downside risks persist if XAG/USD falls below the 100-day SMA, potentially testing support near $64.50-$65.00. Further declines could expose the August 19 low of $62.19 and the 50-day SMA at $61.34.