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Silver (XAG) Daily Forecast: Eyes $28.65 Amid 50 and 200 EMA Crossover May 06, 2024 — 02:54 am EDT Written by Arslan Ali for FX Empire -> FXEmpire.com - Market Overview ...

Silver markets initially fell during the trading session on Thursday but have turned around to show signs of strength again. Currently, we are pressing up against the 200 day EMA.

Technical indicators fortify this outlook; the 50-day and 200-day Exponential Moving Averages (EMAs) at $26.90 and $26.59, respectively, support the current price level.

Seemingly, more sellers may cue the broken neckline and crossover the 50-EMA. Once more, the classic projection of the head and shoulder roughly lines up with $41,500 near the 200-EMA.