Silver technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
XAG/USD is trading around $74.49 in a long-term ascending channel, showing a bullish bias after rebounding from support at $70.50. Immediate resistance is at $80.00, with the next key level near $85.00, while major support sits at $70.50 and deeper at $64.30. The price is above the 60-period SMA, confirming short-term momentum, and the bounce off the channel bottom highlights strong "buy the dip" sentiment. The outlook is cautiously bullish: a break above $80 could retest $85–$86, while a failure to hold $74.50 may see a pullback toward $70.50.



The 9-day EMA at $71.02 remains above the 50-day EMA, confirming short-term bullish momentum, though the RSI of 70.51 signals overbought conditions that may trigger minor consolidation or profit-taking. With supply deficits and strong industrial demand supporting the structural uptrend, a modest pullback or sideways movement is possible before the next upward move.

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