XAG/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Analyzing the daily chart for XAG/USD, the market remains under significant selling pressure as bearish momentum continues to dictate the broader trend. Silver is currently trading near 58.471, moving steadily lower within a defined descending channel and remaining well below its 100-day moving average of 75.738.



Following a decisive breakdown below the structural floor at 63.40, this prior support zone is now expected to serve as firm overhead resistance against any short-term, corrective rallies. The prevailing price action points toward a continued descent aiming for the next major support base at 55.00, a critical level where buyers will need to step in with notable volume to halt the ongoing decline and establish a potential recovery.

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