Silver Price Analysis: XAG/USD holds $25.00 inside two-week-old falling channel

• Silver ticks up inside a choppy range above $25.00.
• Bearish chart pattern, sluggish MACD suggests continuation of downbeat performance.
• Previous support line from mid-January adds to the upside filters.

Silver picks up the bids around $25.15-20 during the initial Asian session on Tuesday. Even so, the white metal stays inside the recently established range between $25.00 and $25.30.

It should, however, be noted that a downward sloping trend channel from February 25 favors the silver bears amid sluggish MACD signals.

As a result, the $25.00 threshold can offer immediate rest to the quote before dragging it to the stated channel’s support line around $24.25.

If at all, silver sellers refrain from stepping back around $24.25, the yearly bottom surrounding $24.15 and the $24.00 round-figure will challenge the quote’s further weakness.

Meanwhile, an upside break of the channel’s resistance line, at $25.55 now, will have to regain past-previous support line from January 17, currently around $26.65, to recall the commodity buyers.

Silver four-hour chart

Trend: Bearish