Eseandre Mordi
⬤ XAG Silver took a nasty hit after touching $120, but here's the thing—it's still trading inside an ascending broadening wedge. The drop was brutal, no question, but the bigger picture stays bullish as long as we're above $50. The chart shows silver got rejected hard at the upper boundary without actually breaking the long-term setup.
⬤ What you're looking at is a multi-month rally playing out inside expanding trendlines—classic volatility zone. After pushing into the wedge's upper boundary near $120, XAG/USD got slammed back down toward the middle of the pattern. But—and this matters—the structure held. Price is still comfortably above the major long-term support.
⬤ That $50 level? That's the line in the sand for XAG Silver's broader trend. Stay above it, and the bulls are still in control despite the wild swings. The ascending broadening wedge keeps framing silver's moves, showing a market that's choppy but structurally supported.
⬤ Why this setup matters: XAG Silver is holding up after getting rejected hard from elevated levels. Staying above $50 keeps the bullish story alive while allowing for continued chop inside the wedge. How XAG/USD moves within this structure will tell us everything about trend strength and risk conditions in silver moving forward.
Eseandre Mordi
