Usman Salis
After weeks of bullish momentum, silver (XAG/USD) has entered a key technical zone. Traders are watching closely as the metal tests critical support levels while facing signals of potential exhaustion. With both bulls and bears preparing for the next big move, the coming days could prove pivotal for short-term direction.
Support Zone at $37.49 Remains Critical
Silver (XAG/USD) briefly dipped to test the $37.49 support level early in the trading session, but the level held strong. By mid-session, the price had rebounded to approximately $37.72, showing a +0.6% intraday gain. The blue upward trendline continues to act as a key support area, aligning with bullish expectations as long as the price stays above it.
Resistance is visible at $39.39, the recent high. Unless silver breaks through this level with strong volume, upside may remain limited.
Bearish Candlestick and RSI Signal Potential Downside
Despite today’s bounce, the chart shows a prominent topping tail—an indication of intraday rejection at higher prices. This candlestick formation often suggests selling pressure and uncertainty among bulls. The RSI hovers around the 60 level, showing fading momentum without being overbought.
Traders are closely watching whether silver (XAG/USD) can maintain its position above $37.49 or if a drop toward $36.00 could follow.
Usman Salis
