Victoria Bazir
⬤ Silver price action on the hourly timeframe displays a projected recovery pattern, with the XAG structure indicating a potential move back above the $30 level within the next week.
⬤ The chart shows price trading within a descending channel, bouncing from support near the $29.70 area. A horizontal reaction zone around the mid-$29 range has been identified as a key level within this structure.
⬤ The technical outlook suggests a pullback scenario followed by upward continuation toward the channel's upper boundary and potentially beyond. The silver target zone sits above current levels, approaching the $30 region.
⬤ This setup outlines a bullish path that could unfold if the metal maintains support and follows the projected trajectory shown on the chart.
Victoria Bazir
