• Silver price hits a four-week high at $24.52 but retraces to $24.26.
• For bullish continuation, XAG/USD must breach $24.49 resistance, opening the path to $25.00 per troy ounce.
• XAG/USD’s failure to crack $24.49 could lead to further losses, with potential dips to $24.01 and $23.63.

Silver price reaches a new four-week high but retraces from those levels to finish the day, forming a gravestone doji, suggesting neither buyers nor sellers win the battle, which would continue into the following week. Therefore, the XAG/USD finished the week trading at $24.26 after hitting a daily high of $24.52.

XAG/USD Price Analysis: Technical outlook

The XAG/USD daily chart portrays the pair as neutral-biased in the near term. Although the daily EMAs sit beneath Silver’s spot price, XAG/USD’s failure to break market structure above the April 25 low turned resistance at $24.49 would likely keep Silver’s price depressed. Nevertheless, real news like the Federal Reserve (Fed) monetary policy decision on Wednesday could give direction after printing a doji on the latest day of the week.