Silver Price Analysis: XAG/USD buyers have a bumpy road below $23.15 hurdle

• Silver fails to extend short-term resistance break, steps back from 50-SMA.
• Upbeat Momentum line suggests further recovery but three-week-old falling trend line, double tops challenge bulls.

Silver eases to $22.60 amid Tuesday’s Asian session, following the first positive daily closing.

The bright metal pierced a descending resistance line from September 16 the previous day but failed to cross 50-SMA before the latest pullback. However, the Momentum line favors the metal’s rebound from the yearly low marked during the last week.

Hence, buyers will wait for a clear upside break of 50-SMA, around $22.65, to take fresh entries targeting the $23.00 threshold.

Even so, a three-week-old downward sloping trend line and double tops marked since September 17, respectively around $23.05 and $23.15, will be the key challenges for XAG/USD traders to overcome before retaking the controls.

On the contrary, $22.30 may offer immediate support to the silver prices ahead of directing bears to the yearly low surrounding $22.00.

Following that, lows marked during November and September 2020, near $21.90 and $21.65 in that order, will be important to watch as they hold the gate for the metal’s south-run towards the sub-$20.00 area.

Silver: Four-hour chart

Trend: Pullback expected