At a vital support level, silver is putting the bull’s commitments to the test.
Bulls in the XAG/USD currency pair are betting on the dynamic support to hold and are targeting a 38.2 percent Fibo retracement.
The bulls are targeting the 38.2 percent Fibonacci retracement target of $26.60 as the white metal corrects the negative impulse.
The 10-day EMA, on the other hand, is currently capping the price, and it could take a break there with the 4-hour resistance at $26.30 to break the seal towards the daily goal.
Furthermore, the price is putting the bulls’ pledges at the dynamic support to the test, which is becoming less durable as time passes.
A break of the dynamic support and subsequently the horizontal support at $25.95 would be important, giving the bears control of the market.
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