Silver Breaks Above 50-Day SMA, Targets $65
Silver prices surged nearly 3%, clearing the 50-day moving average and reclaiming the $63.00 level, with traders eyeing the $65 mark.
XAGUSD
Silver rallied sharply, gaining almost 3% and pushing through the 50-day Simple Moving Average at $62.13. The move also reclaimed the $63.00 figure.
Key resistance remains at $63.28, the July 6 high. A sustained break above this level would open the path toward the $65 target.
Traders are watching for follow-through momentum as the metal clears these technical hurdles.
Source: FXStreet Forex News