Alex Dudov
⬤ Silver in the XAG pair retreated after failing to hold above nearby resistance. The hourly chart shows price rolling beneath a descending trend line that keeps capping rebounds, while candles squeeze around mid-range after getting rejected. This movement pushes short-term sentiment toward caution as price drifts lower.
⬤ Indicators show weakening momentum rather than aggressive selling. RSI hovers between 47 and 51, pointing to neutral-weak conditions, and volume stays relatively quiet—meaning neither buyers nor sellers are jumping in with force. The Volume Profile point of control sits near $81.18, marking a balance zone where most trading happens, similar to silver stalls at 83 resistance as price consolidates near 81 balance zone. Volume delta leans negative, giving sellers a slight edge, while Bollinger Bands show a pullback toward the middle band and Parabolic SAR above price signals short-term downside pressure.
⬤ Key support levels line up at $81.18, $80.67, $79.70, and $69.45, while resistance sits near $83.07, $83.90, $85.07, and $100.03. Right now, XAG is trading between first resistance and primary support zones. Similar price action showed up in silver price crashes through Ichimoku cloud triggering short term reset and silver struggles near 66 resistance after brief drop to 65 support, where short-term momentum shifted around clearly defined levels.
⬤ Silver often reacts to U.S. dollar strength and interest rate expectations. A stronger dollar can pile on pressure, while a weaker greenback may open the door for recovery. The current setup shows a market waiting for broader macro direction before picking a clearer trend.
Alex Dudov
