Eseandre Mordi
⬤ Silver hit a consolidation phase after bouncing from ascending support late last week, with XAG now stuck inside a tightening range on the daily chart. Price rallied back into a former bear flag support zone that's now flipped into resistance while lining up with a falling 21-day moving average. Similar compression showed up recently in Silver slips below key averages.
⬤ The prior breakdown level keeps acting as a supply zone, confirming sellers are still defending market structure. Meanwhile, the 50 EMA below provides support, leaving Silver squeezed between dynamic resistance overhead and support underneath. As one analyst put it, "The pattern signals compression and a coiling market rather than trend continuation." Comparable resistance behavior appeared in Silver price analysis can XAG break through key resistance.
⬤ The latest daily candle formed an inside range, highlighting indecision as XAG trades between the 21 EMA above and the 50 EMA below. A similar choppy structure emerged after volatility swings in Silver metal price jumps after wild price swings.
⬤ This setup marks a transition phase for Silver where neither continuation nor reversal is locked in. The tightening range suggests sideways consolidation is the most likely near-term path while the market gears up for its next directional move.
Eseandre Mordi
