Saad Ullah
Silver (XAG/USD) is trading near $67.89 on the weekly chart and still holding above the February 6 wick low near $64. That higher-low structure is the backbone of the current bullish case. As long as price stays above this zone, the broader uptrend remains technically intact despite the recent leg lower.
The key development is a break below the August 2025 ascending trendline, which had supported the multi-month rally. A weekly close back above this line would restore confidence in the structure and keep larger upside targets valid. Long-term setups like the one discussed in Silver Triangle Setup Points Toward $140 Price Target show how extended consolidations can precede major moves when structure holds.
If silver fails to reclaim the August trendline, attention turns to the April 2025 trendline and the 200-day moving average, both converging near $57. That zone represents a roughly 15% decline from current levels. A similar corrective sequence played out in Silver Pulls Back to $56 After Rally to Mid-$60s, where price retraced to comparable support without breaking the long-term trend.
The setup leaves silver at a binary inflection point: hold $64 and reclaim the broken trendline, or face a deeper correction. The speed of potential moves in XAG should not be underestimated, as demonstrated in Silver Price Analysis: XAG/USD Drops 26% in Historic Daily Selloff, where a single session sharply reshuffled market structure. The coming weekly close will be the clearest signal of which path silver takes next.
Saad Ullah
