Silver tech analyst guess Turning to silver, Larsson noted that spot silver (XAGUSD) has bounced from the 0.382 Fibonacci retracement at $30 per ounce, and he believes the gray metal is likely to resume its uptrend.
“Daily RSI is still showing positive sentiment with no divergence, indicating silver could push to levels above 32.52,” he wrote.
Looking at the weekly chart, Larsson said that “If it takes out 32.52, there is no strong resistance until around 34.40–35.40.”