Commodities
Silver Holds Ground Below Two-Month High
The price of Silver (XAG/USD) continues to hold its ground around $69.00, despite minor losses in the Asian session on Monday.
This comes as the white metal remains close to a two-month high set at $70.00 on Friday and appears poised for further appreciation.
The near-term bullish bias of XAG/USD is supported by last week's breakout above the $66.65-$66.70 horizontal resistance and the 38.2% Fibonacci retracement of the May-July decline.
The white metal also holds above the 200-period Simple Moving Average (SMA) on the 4-hour chart, with positive oscillators underpinning the advance.