Silver (XAG/USD) oscillates in a narrow band during the Asian session on Friday and currently trades above mid-$32.00s, near its highest level in over a week touched the previous day.
Moreover, the near-term bias seems tilted in favor of bullish traders and supports prospects for an extension of the weekly uptrend.
The recent bounce from sub-$31.00 levels, nearing the 100-day Exponential Moving Average (EMA), and the fact that oscillators on the daily chart have just started gaining positive traction validate the constructive outlook for the XAG/USD.
Hence, some follow-through strength beyond the $33.00 mark, towards the February monthly swing high around the $33.40 area, looks like a distinct possibility.
Source: FXStreet
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