XAG/USD Technical Analysis: Silver Consolidates Inside Bullish Ascending Channel

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Source: Dukascopy Bank SA
XAG/USD 4-hour chart reflects a sustained bullish market structure within an ascending channel, with price currently pausing around $69.32 just beneath psychological resistance at $70.00. Immediate dynamic support is being provided by the 12-period SMA, keeping the short-term bias titled toward buyers. A decisive breakout above the $70.00 zone would pave the way for a test of the upper boundary near $72.00–$73.00, whereas a failure to sustain above the moving average could prompt a mean-reversion retest toward the lower ascending channel trendline near $65.50–$66.00.



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