Abstract：Silver (XAG/USD) prices renew daily low around $25.70, down over 1.0% intraday as it braces for the first negative week in six during Fridays Asian session.
Silver refreshes intraday low to pare weekly gains.
Downbeat MACD conditions, bearish chart pattern favor sellers.
Bulls need successful break of 50-HMA to reject bearish bias.
The bearish bias takes clues from MACD amid looming bear-cross, between the MACD line and the signal line. Also favoring the odds of the quotes further downside is the failure to cross the 50-HMA.
Above all, the XAG/USD prices portray a Head-and-Shoulders (H&S) chart formation on the hourly play, which in turn teases the bears.
That said, a clear downside break of the neckline, around $25.30, will confirm the H&S formation and can direct the quote towards the mid-$23.00s. However, the $25.00 threshold may offer an intermediate halt during the fall.
Meanwhile, recovery moves need to cross the 50-HMA level surrounding $25.95 to recall the XAG/USD bulls, a break of which will could redirect the metal towards the monthly high of $26.95.
In a case where silver prices remain firmer above $26.95, also cross the $27.00 threshold, buyers can aim for June 2021 high near $28.55.
Silver: Hourly chart
