Silver
The price of silver is currently testing the pivot point at 23.14, with the Relative Strength Index (RSI) maintaining a position above the 50 level. The XAGUSD's inability to close below the S1 support level of 22.59 suggests that the price movement range since October 23 is likely a correction to the upward trend that began earlier this month.
The pivot point serves as a hurdle for the bulls. To drive the price towards R1 (23.9), they must ensure a close above the pivot point.
Conversely, the S1 level (22.5) acts as a safeguard against further price decline. If this level is breached, the bears could potentially target S2 (21.8) next.