Usman Salis
Silver (XAG/USD) is currently facing a key technical inflection point, trading just below the $37 resistance level. The precious metal is forming a tightening bullish structure just beneath a major resistance zone — and a breakout may be imminent.
Resistance at $37 Faces Pressure as Pattern Tightens
The chart reveals a consistent pattern of descending triangle breakouts throughout Silver’s recent rally. The price is currently consolidating near the $37 level, a critical resistance that has repeatedly capped upside attempts. The current formation shows a smaller ascending triangle, signaling bullish pressure building toward a breakout.
Volume remains stable, but a sharp spike could accompany any decisive move above $37, which would confirm a breakout from the multi-week range.
Support Holds Firm at $35 as Bulls Dominate
Silver has also maintained strong support around the $35 zone, as indicated by the green support band in the chart. The repeated higher lows reflect increasing bullish conviction. A successful breakout above $37 could push Silver toward fresh decade highs, possibly targeting the $40–$42 range in the short to mid term.
Traders should watch closely for a confirmed candle close above the purple resistance box, which could act as a catalyst for the next leg higher.
Conclusion
Silver’s (XAG/USD) technical structure suggests a major move is brewing. A breakout above the $37 resistance zone could open the door to multi-year highs, while failure to break through may lead to another retest of support. With bullish patterns stacking up, the metal remains one of the most closely watched assets in the commodities market right now.
Usman Salis
