Silver Price Analysis: XAG/USD bulls have the upper hand, could aim to conquer $26.00 mark

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• Silver remains on the defensive below the mid-$25.00s, though the downside seems limited.
• The technical setup favours bullish traders and supports prospects for further near-term gains.
• A convincing break below the $25.50-40 strong support is needed to negate the positive bias.

Silver struggles to capitalize on the previous day’s solid bounce from the vicinity of the $24.50-$24.40 strong horizontal support and edges lower during the first half of trading on Wednesday. The white metal sticks to a mildly negative tone and remains below mid-$25.00s through the early European session, though the downside potential seems limited.