Forex Trading Tools and Services

Commodities Silver

Silver Price Forecast: XAG/USD Falters Below $32.50 as US Yields Recover

  • BY
  • May 17, 2025
  • 0 Comments

Silver prices (XAG/USD) concluded the week with a negative bias, falling below $32.50 as US Treasury yields recovered, dampening demand for the metal. Though it consolidated between the 50-day SMA at $32.73 and 100-day SMA at $31.88, XAG/USD could not show a directional bias, and the RSI remained close to neutral. A conclusive break above $33.00 would steer momentum to the advantage of bulls towards $33.50 and possibly $34.51. But a decline below $32.00 would open up the way to lower support levels at $31.65 and the 200-day SMA at $31.23, elevating downside risk in the short term. KEY LOOKOUTS • A break above this level on a sustained basis could generate bullish momentum, paving the way to $33.50 and $34.51. • Holding above this psychological level is essential; a breakdown could fuel bearish pressure. • The 50-day SMA of $32.73 marks the top of the upside, while the 100-day SMA of $31.88 and 200-day SMA of $31.23 offer essential downside support. • The neutral RSI on the 50 level signifies indecision; a move either way could point to the next direction of the trend. Traders must keep a close eye on the $33.00 resistance level, as a break above it may ignite fresh bullish pressure, reaching $33.50 and possibly $34.51. Conversely, it is imperative to hold support at $32.00; a break would reveal important levels at $31.65 and the 200-day SMA at $31.23, indicating increasing bearish pressure. The 50-day and 100-day SMAs at $32.73 and $31.88 remain to establish the ongoing consolidation range. Meanwhile, the RSI close to neutral indicates market indecision, and a decisive directional move could be on the cards. XAG/USD is range-bound between the 50-day SMA at $32.73 and the 100-day SMA at $31.88, and there isn’t a definitive trend. A breach above $33.00 might initiate bullish momentum, while a fall below $32.00 could reveal lower support around $31.23. • XAG/USD languishes below $32.50 on pressure from surging US Treasury yields. •  Price capped by 50-day SMA at $32.73, supported by the 100-day SMA at $31.88. •  RSI is flat at the neutral 50 level, showing no clear direction in the market. •  Break above $33.00 might set the stage for moves to $33.50 and the October high of $34.51. •  Losing above $32.00 might take prices lower to $31.65 and the 200-day SMA of $31.23. • Choppy market conditions continue, with silver consolidating inside a tight band during the last week. • Technical bias still remains neutral, looking for a clear break above resistance or below important support. Silver prices eased at the end of the week, driven mainly by general market sentiment and macroeconomic conditions. The recent bounce in US Treasury yields depressed investors’ demand for non-yielding assets such as silver, helping push it into decline. In spite of persistent geopolitical tensions and inflation issues, the metal did not get any safe-haven flows, indicating market participants are more interested in interest rate directions and dollar moves at this point. XAU/USD DAILY PRICE CHART CHART SOURCE: TradingView Silver’s direction remains heavily influenced by global economic indicators and policy expectations. As market participants weigh future economic data and central bank cues, silver’s mood is still guarded. Although the metal has long-term appeal as an industrial and investment precious metal, short-term patterns are linked to moving macro dynamics and risk appetite in larger financial markets. TECHNICAL ANALYSIS Silver (XAG/USD) is in a consolidation mode, being stuck between the 50-day Simple Moving Average (SMA) of $32.73 and the 100-day SMA of $31.88. The Relative Strength Index (RSI) is steady around the neutral position of 50, indicating no momentum in either direction. A break above or below these major levels can determine the direction of the next trend with $33.00 serving as key resistance and $32.00 as near-term support. Without a breakout, price action can be directed to remain range-bound and choppy. FORECAST Silver (XAG/USD) breaking above the major resistance level of $33.00 may cause a bullish push towards the next targets at $33.50 and $34.00. A prolonged thrust past these levels can cause a test of the October 30 high of $34.51. The bearish momentum would probably be underpinned by new buying interest, particularly if overall market conditions, like softer US yields or a weaker dollar, become favorable to precious metals. Technical charts also may turn to signal bullish orientation, underpinning the rise. Conversely, a fall below the $32.00 level could indicate increasing bearish pressure, sending silver lower toward the 100-day SMA at $31.88 and May 15 low of $31.65. If this support level does not hold, the next significant level to watch would be the 200-day SMA at $31.23, with potential to slide further toward the $31.00 psychological level. Such action would signal a change of heart, perhaps on the back of firmer economic data or sustained advances in US Treasury yields, which have a tendency to weigh upon precious metals.

Read More
Commodities Silver

Silver Price Forecast: XAG/USD Outlook with Bullish Technical Setup and Crucial Support Levels

  • BY
  • April 25, 2025
  • 0 Comments

Silver (XAG/USD) has eased back from a three-week high recently, trading at the mid-$33.00s, after breaking above the $33.00 level in an aggressive move earlier this week. The technical setup is still bullish despite the recent dip, with oscillators indicating positive momentum and further upside potential. Any dip will tend to draw in dip-buyers, particularly around the $33.00 support level. A drop below this support might change the outlook to a more bearish direction with the next support levels at $32.40 and $32.00. On the higher side, the near-term resistance at $33.70 might open the door to even more gains, likely taking the XAG/USD to the $34.00 mark and higher, with the $35.00 psychological level coming into view. KEY LOOKOUTS • A key support level has emerged around $33.00, with a break below this mark potentially triggering a decline toward the $32.40 and $32.00 levels. Watch for any dip-buying near this support zone. • The immediate resistance at $33.70 could be pivotal for silver’s price action. A breakout above this level may pave the way for further gains toward $34.00 and higher targets. • Oscillators on the daily chart are showing positive momentum, indicating that silver could maintain an upward bias, provided it doesn’t experience significant selling pressure. • The $35.00 mark remains a key psychological resistance level. If silver continues its bullish momentum, reaching this level could mark the next significant hurdle, especially following a breakout above $34.00. Silver (XAG/USD) is having a mild retracement after it hit a three-week high in the early part of this week. The metal is trading at the mid-$33.00s, and the $33.00 level is an important point to observe. A move below this support may result in further declines to $32.40 and $32.00. But the technical setup overall is still bullish, as oscillators are indicating bullish momentum, and this week’s breakout above $33.00 has created hope among traders. The $33.70 level is the near-term resistance, and a possible breakout above it can lead to the $34.00 zone. If the trend remains bullish, silver can potentially target the $35.00 psychological level in the future, and thus it is a level to watch in the future sessions. Silver (XAG/USD) is ranging in the mid-$33.00s following a recent breakout, with crucial support at $33.00 and resistance at $33.70. A breakdown below $33.00 may portend more weakness, while a surge above $33.70 may clear the way to $34.00 and higher. • Silver (XAG/USD) is ranging in the mid-$33.00s following a recent retreat from a three-week high. • The $33.00 level is key support, and a break below it might send the price down toward $32.40 and $32.00. • Oscillators on the daily chart indicate positive momentum, which supports a bullish near-term outlook. • The near-term resistance at $33.70 might cap further gains unless overcome. • A breakout above $33.70 might set the stage for silver to move toward the $34.00 level. • The $35.00 level continues to be a significant psychological resistance level to look for major moves higher. • Any price drop towards $33.00 should find dip-buyers stepping in to support the uptrend. Silver has caught headlines recently after it traded at close to the mid-$33.00s, after its fleeting spike to a three-week peak earlier in the week. There is optimistic market sentiment still prevailing, given how most of its traders believe in the possibilities for silver’s continuity in being upward-bound. Events such as international economic volatility and investor interest in precious metals would likely still see demand driving demand for silver upwards, supporting its price stability to this range. XAG/USD DAILY CHART PRICE CHART SOURCE: TradingView Moving forward, the future price action of silver will be based on general market conditions and investor sentiment. Since silver is considered a safe-haven asset, its price can be affected by any changes in the global financial environment, including inflation rates or geopolitical issues. As retail and institutional investors increasingly show interest in silver, it can continue to be a good choice for investors looking to hedge against market volatility. TECHNICAL ANALYSIS Silver (XAG/USD) has demonstrated good bullish potential following the break above the $33.00 level, which served as a major resistance level. The price is testing the three-week high, and oscillators are reporting positive momentum, implying that silver may extend its upward trend in the short term. Nonetheless, the early resistance at $33.70 might become an obstacle to more upside, with the $33.00 now being converted to support, becoming an important level to hold onto the bullish direction. A decline below here would mean a change in market direction, while continued strength would move silver towards $34.00 and $35.00 levels. FORECAST Silver (XAG/USD) is poised for further gains at this point, with important resistance at $33.70 and $34.00. A break over $33.70 is likely to lead to further bullishness and could take the price of silver to levels of $34.30 and $34.55. A further move above $34.00 has a good chance to establish silver reaching the $35.00 psychological level, which would be a key achievement. Bullish technical indicators and a positive market sentiment for precious metals indicate that silver may continue to find buyers, especially in a climate of economic uncertainty or heightened demand for safe-haven assets. Conversely, silver is at risk on the downside if it drops below the $33.00 support level. A breakdown below this important level may indicate a change in market sentiment, forcing the price towards lower supports of $32.40 and $32.00. This may cause additional bearish pressure, particularly if there is a broader market movement away from precious metals. If silver is unable to hold on to the current support, it could mean that the recent bounce from $28.00 has run out of steam, and more losses are ahead.

Read More
Commodities Silver

Silver Price Forecast: XAG/USD Falls Below $32, But Dip-Buying Interest Lingers Near Key Support

  • BY
  • April 14, 2025
  • 0 Comments

Silver (XAG/USD) began the week on a down note, falling below the $32.00 level and ending its recent three-day winning streak. In spite of the reversal, the technical configuration indicates limited downside, with solid support anticipated near the $31.30 area, where dip-buyers may re-enter. The metal’s recent rally faced resistance near the 61.8% Fibonacci retracement level, and a decisive move above the 200-period SMA on the 4-hour chart — around $32.55-$32.60 — is needed to confirm a bullish continuation toward the $33.00 and $34.00 targets. Until then, silver remains vulnerable to short-term corrections, though significant downside appears capped for now. KEY LOOKOUTS • This region, on the line of the 50% Fibonacci retracement level, is likely to be attracted to dip-buyers and could provide a sturdy floor against greater declines. • A conclusive breach higher here in the 4-hour time frame will confirm a revival of bearish strength, and the path towards $33.00 and further will lie open. • Further rejection closer to the 61.8% Fibo. level confirms risk-averse trading; though a breach would kindle the next move up to $33.20 and $33.50. • A clean break below $31.00 might stimulate further technical selling, the next potential supports resting at $30.55 and the psychological $30.00 handle. Silver (XAG/USD) starts the week on a downside note, with all eyes being on important technical levels that could dictate its direction next. The $31.30-$31.35 band continues to act as a major support level where buyers would want to step in and cap more losses. On the plus side, the $32.55-$32.60 area, defined by the 200-period Simple Moving Average on the 4-hour chart, is a solid resistance. A firm breakout above it would confirm the uptrend momentum and set up for a rally to $33.00 and, possibly, the March swing high around $34.00. In the meantime, the metal will trade between these two levels, with both buyers and sellers watching out for these key levels to act as the next directional catalyst. Silver (XAG/USD) fell below the $32.00 handle, halting its recent ascent as selling interest resurfaced early this week. Important support is found around $31.30, where dip-buying sentiment may stem further losses. Breaking above $32.60 might unleash new bullish momentum towards $33.00 and higher. •  Silver dips below $32.00 early in the week, breaking a three-session winning streak and falling from near-term highs. •  Bounce is due near the $31.30-$31.35 region, where the 50% Fibonacci retracement mark may draw in dip-buyers. •  Break above the 200-period SMA ($32.55-$32.60) on the 4-hour chart is necessary to validate bull strength and to set the stage for further rallies. •   Resistance is still at the $33.00 psychological level and the $33.20 area (78.6% Fibonacci level), with a crucial barrier at $33.50-$33.55. •   A failure to sustain $31.30 can lead to fresh downside, with the next support targets at $31.00, $30.55, and the $30.00 psychological level. •   Technical indicators are mixed on the daily chart, with caution advised pending clear price confirmation. •   Bulls and bears are stuck between $31.30 and $32.60, with chances of breakout situations determining the short-term trend. Silver started the new week on a weaker note, retreating fractionally after a good performance last week. Despite the latest retreat, overall sentiment in the market for silver remains upbeat, with speculators keeping a close eye on the global economic trend, inflation figures, and demand for safe-haven assets. Silver continues to be a critically important metal not only in jewelry and investment, but increasingly in expanding industrial uses, such as solar panels and electric cars, which supports its long-term attractiveness. XAG/USD DAILY PRICE CHART CHART SOURCE: TradingView This week’s sluggish starts may have less to do with a change in market sentiment than a healthy bout of profit-taking. Most investors still regard silver as a safe asset, particularly in uncertain economic times. While global markets weigh between growth fears and policy shifts, silver’s dual-base of industrial demand and safe-haven value keeps it as an important commodity to monitor in the weeks to come. TECHNICAL ANALYSIS Silver (XAG/USD) is presently going through a significant price area, where buyers and sellers are probing each other’s resilience. The metal recently encountered resistance around the $32.60 area, where the 200-period Simple Moving Average (SMA) on the 4-hour chart, indicating that breaking above this area could spark new bullish momentum. On the negative side, the $31.30-$31.35 region is still a major support area, closely corresponding to the 50% Fibonacci retracement level, where dip-buying interest will be seen. Until silver breaks out of this zone, the price will likely consolidate, with traders waiting for a definitive move above or below these levels to validate the direction of the next trend. FORECAST If silver (XAG/USD) can regain its footing and overcome the $32.55–$32.60 resistance level, it might induce new buying pressure in the market. Breaking above this level would most likely make way for the path towards the $33.00 psychological level with the possibility of further extending gains towards the $33.20 area, which is also at the 78.6% Fibonacci retracement level. If the momentum holds, the rally may continue into the $33.50–$33.55 resistance band and even attempt to reach the $34.00 level, which was the March swing peak. Conversely, if silver does not manage to hold support around $31.30–$31.35, it can attract new selling pressure. Breaking below this region may trigger a more extensive correction towards the $31.00 round number. If bearish momentum gains strength, the price may fall further to challenge the $30.55 support, which is close to the 38.2% Fibonacci retracement level. Sustained weakness may even drag silver down to the $30.00 psychological level and, in a more extreme bearish case, the $29.55 area.

Read More
Commodities Silver

Silver Price Outlook: XAG/USD Under Bearish Pressure Around $33.00 Amid Critical Fibonacci Support Levels

  • BY
  • March 21, 2025
  • 0 Comments

Silver (XAG/USD) remains under bearish pressure for the third day in a row, falling towards the weekly low around the $33.00 level. The metal has fallen below the 23.6% Fibonacci retracement level of its latest rally, which indicates the possibility of more corrective losses. But mixed technical indicators and stable daily oscillators indicate that the fall may hit robust support close to the $32.90-$32.95 range. A persistent break below this zone may pave the way for lower levels towards $32.50 and even $32.00. On the upside, a recovery above $33.40 and $33.55 can reignite positive momentum and lift silver back into multi-month peaks in the area of $34.20-$34.25. KEY LOOKOUTS         • Monitor price action around the 38.2% Fibonacci level—this area can serve as an important support. A breach here could lead to a more intense correction towards $32.50 and $32.00. • The 23.6% Fibonacci level and recent session highs around $33.55 are important resistance levels. A good breakout above this area may rekindle bullish momentum. • A continued fall below the 50% Fibonacci retracement point at $32.50 would confirm additional bear risk, and the recent rally may have topped. • If the buyers take over again, XAG/USD can visit $34.20-$34.25 peaks, with additional upside potential towards the $34.55-$34.85 area—levels not seen in multi-year highs. Silver (XAG/USD) continues to be under pressure, with the attention now going towards critical technical levels that may decide its next direction. The $32.90–$32.95 range, which is also coinciding with the 38.2% Fibonacci retracement level, is proving to be a significant support level—any strong break below this level could propel the downside towards $32.50 and even $32.00. Conversely, near-term resistance is at the $33.40–$33.55 range, and a break above this level could set the stage for a recovery towards $34.00 and multi-month highs of $34.20–$34.25. A move in either direction from these levels for an extended period will probably set the direction of silver prices short-term. Silver (XAG/USD) is under selling pressure and moving close to the critical support range of $32.90–$32.95. Breaking below here could lead to more losses, whereas a break above $33.55 may create a route for a trip to $34.20–$34.25 highs. • Silver (XAG/USD) is under pressure for the third day in a row, trading close to the $33.00 level. • Price has fallen below the 23.6% Fibonacci retracement level, reflecting bearish sentiment. • Important support is at the $32.90–$32.95 zone (38.2% Fibo. level), a level to be closely monitored. • A sustained break below this zone may trigger further losses to $32.50 and $32.00. • Oscillators on the daily chart remain in positive ground, indicating minimal downside in the near term. • Resistance is around the $33.40–$33.55 zone; a breakout could resuscitate bullish momentum. • Targets on the upside are $34.00, then $34.20–$34.25 and additional resistance around $34.55–$34.85. Silver still attracts interest within the international market as investors remain keen on observing its performance during shifting economic fundamentals. The white metal, viewed by many as a safe haven, is at the center of both industrial use and investment portfolio. As investment in precious metals gains traction based on global uncertainty and inflation risk, silver becomes a key part of market narratives. XAG/USD Daily Price Chart Chart Source: TradingView In addition to its investment value, silver is extensively applied in industrial applications like electronics, solar power, and medical uses, thus maintaining its demand robust in the long term. As market players assess global economic trends, geopolitical events, and monetary policies, silver is poised to continue to play a pivotal role as an asset of diversification and preservation of value. TECHNICAL ANALYSIS Silver (XAG/USD) is already reflecting a correction phase following a recent rally, with price action fluctuating around a critical support area. The metal has fallen below the 23.6% Fibonacci retracement level of its latest upwards movement, hinting at a possible slowdown in bull momentum. Daily chart indicators, however, continue to be in the positive region, meaning that the broader trend has not altogether turned bearish. Traders are watching closely at key support and resistance levels, as a break in either direction would decide silver’s next big move in the near term. FORECAST Silver (XAG/USD) may see a gradual rebound in the near term. A consistent move above near-term resistance levels can pave the way for more gains, potentially driving the price towards earlier multi-month highs. Bullish sentiment, fueled by rising industrial demand and renewed investor appetite, may propel the metal upwards. Sustained strength in global precious metal markets and weakening dollar pressure may also lend support to bullish silver price moves. On the contrary, in case selling pressure prevails, silver could prolong its correction stage, moving towards lower support levels. A clear break below significant levels might indicate deeper losses, depicting short-term bearish sentiment. Events such as a firmer U.S. dollar, increasing bond yields, or decreasing safe-haven demand might dampen silver prices. In this context, market participants could see further bearish moves before the market establishes a new support base for stabilization.

Read More
Commodities Silver

Silver Price Forecast: XAG/USD Remains Bullish Bias Despite Retreat – Levels to Note

  • BY
  • March 6, 2025
  • 0 Comments

Silver (XAG/USD) trades with a marginal negative bias at the upper mid-$32.00s, ending a three-day winning run but still enjoying a bullish outlook. Even after the retreat, the technicals remain bullish-friendly, with the oscillators developing positive momentum and the metal continuing to hold over important support levels. A push towards $33.00 and higher is still on the cards, with resistance around $33.40 and further goals at $34.00 and $35.00. But a strong break below $32.25 might lead to a fall to the $31.00-$30.80 area, tilting momentum in favor of bearish traders. KEY LOOKOUTS • Silver is still above crucial support levels despite a small fall, with technicals pointing to possible gains to $33.40, $34.00, and $35.00. • The following major roadblocks are at $33.60-$33.70, with the breakout opening the doors for silver to challenge the key $34.50-$35.00 area. • A fall below $32.25 could prompt further losses towards $31.80 and $31.00, which might shift things in favor of bearish traders. • The 100-day EMA around $31.10-$31.00 remains a critical level; a fall below here could lead to more selling pressure and a bearish reversal. Silver (XAG/USD) remains in a bullish trend even after a small pullback, with technical indicators indicating possible upward movement. The most important resistance levels to look out for are $33.40, then $33.60-$33.70, with a breakout leading the way to $34.00 and $35.00. On the bearish side, support at $32.25 is important, with a sustained fall below this triggering further losses towards $31.80 and the 100-day EMA at $31.00. Overall, short-term volatility continues, but the bigger picture remains bullish for buyers unless silver declines below major support levels, changing the trend in favor of bearish traders. Silver (XAG/USD) is still bullish despite a minor correction, with major resistance at $33.40 and $34.00. A fall below $32.25 may lead to further losses, but the 100-day EMA around $31.00 is still an important support. • Silver (XAG/USD) is still an important commodity for industrial consumption and investment, and its price action is driven by this. • Silver still has a bullish inclination despite recent volatility, with technicals pointing towards potential upside action. • The next resistance levels are at $33.40 and $34.00, with a break opening the door to higher price targets. • Key support levels at $32.25 and $31.80 will decide if silver continues its uptrend or falls. • Silver prices are influenced by inflation, central bank actions, and global economic conditions. • Growing demand from solar panels, electronics, and medical applications continues to underpin long-term demand. • A strong dollar, increasing bond yields, or a change in investor sentiment may influence silver’s short-term price movement. Silver (XAG/USD) remains a vital asset in global markets, valued for both its industrial applications and its role as a store of wealth. Its demand spans across various industries, including electronics, solar energy, and medical technology, making it an essential component of modern innovations. Additionally, silver has historically been considered a safe-haven asset, with investors turning to it during times of economic uncertainty and inflationary pressures. As the globe goes greener with technology, growing application of silver in renewable energy applications, notably solar panels, keeps driving demand in the long term. XAG/USD Daily Price Chart Chart Source: TradingView Apart from its industrial and investment interest, silver is also culturally and historically significant in every society across the globe. Jewelry and ornaments to coins and bullion, it has been a mark of prosperity and wealth for ages. Central banks, institutional investors, and retail traders closely monitor silver because it has the dual character of being both a commodity and a financial asset. As the world’s economic trends change, silver is an important component in portfolios and industries as well, capturing wider trends in technology, sustainability, and economic stability. TECHNICAL ANALYSIS Silver (XAG/USD) still displays a bullish inclination from a technical point of view, with leading indicators favoring bullish momentum. The metal has continued to demonstrate its resilience above vital support levels, while daily chart oscillators see positive momentum in gaining traction in a constructive approach. Moving averages, especially the 100-day EMA, serve as decisive pivot points whose price action shows respect for levels. Resistance ranges around $33.40 and $34.00 offer a potential upside targets, while breaching key levels of support sends out a possibility of a trend reversal. All in all, the technical setup for silver is positive for buyers except if a solid breakdown below pivotal support changes direction. FORECAST Silver (XAG/USD) still has a positive outlook as market sentiment favors increased gains. Unless buying pressure strengthens, the metal may head for the $33.40 level of resistance with a possible breakthrough allowing $33.60-$33.70. Continued bullish momentum would propel silver even higher towards the psychological figure of $34.00, with a longer-term rally aiming for the $34.50-$35.00 band. Encouraging economic news, higher industrial demand, or a weakening U.S. dollar would serve as the catalysts for higher silver prices in the near term. To the downside, silver has critical support at $32.25-$32.30, which would cap any near-term decline. A decline below this area could reveal the metal to more losses towards $31.80 and the 100-day EMA level around $31.10-$31.00. If downside pressure becomes aggressive, silver would test the $30.80 area, representing a change of heart towards bearish grounds. Events like a firming U.S. dollar, increasing bond yields, or risk-off risk in financial markets would help send silver’s prices lower.

Read More
Commodities Silver

Silver Price Forecast: XAG/USD Set for Next Leg of Upside as Bulls Target Breakout Above $31.00

  • BY
  • January 30, 2025
  • 0 Comments

Silver (XAG/USD) maintains its bullish bias for the third consecutive day and touches a fresh one-month high at around $31.00. The technicals are supportive of the buyers, and most indicators are hinting at more upside. A clear break above the 100-day SMA can propel the pair toward key resistances at $31.50, $32.00, and potentially even $33.00. Any pullback will probably be corrective. Near $30.65, there is strong support, and the 200-day SMA is still around $30.00. Of course, if it breaks to a lower level, silver could head lower to place $29.70 more into focus. KEY LOOKOUTS • A sustained move above the 100-day SMA will likely mark the start of a strong uptrend, and silver can run quickly to $31.50, then $32.00, and even $33.00 into the short term. • The downside protection is at $30.65, while the 200-day SMA stands at around $30.00, which can be a key support zone for buyers. • Momentum indicators are turning positive and indicate continued buying interest, supporting the idea that silver may make an extended upside move. • A break below the psychological $30.00 level could change the sentiment and may lead to a retest of the lower support zones of $29.70 or below. Silver (XAG/USD) tends to hold up as bullish, with a potential breakout above $31.00 likely coming within bullish technical moves. Strength above the 100-day SMA could easily lead to a push toward $31.50 or even $32.00, and then $33.00, should it be utterly valid. Likewise, defying the negativity will be $30.65 and the 200-day SMA near $30.00. However, a break below this key psychological level could trigger a deeper correction toward $29.70 or lower. Traders should watch these critical levels closely as silver navigates its next move. Silver (XAG/USD) is on an upward trajectory again, with breakout potential above $31.00, as several technical indicators go bullish. Still, a relatively strong support in the vicinity of $30.65 and close proximity to $30.00, the 200-day simple moving average (SMA), limit the downfall. A close above the resistances could boost the price significantly to $32.00. • Silver (XAG/USD) is seeing its third straight day of upside, reaching an intraday peak near $31.00 in one month. • A breakout above the 100-day SMA could push prices toward $31.50, $32.00, and possibly $33.00. • Immediate support lies at $30.65, with the 200-day SMA around $30.00 acting as a critical level for buyers. • Momentum indicators show increasing buying pressure, reinforcing the potential for continued upside movement. • A break below the $30.00 psychological level may trigger a decline toward $29.70 or lower. • Sustained buying interest could lead to an extended rally, reversing all previous corrections from the October 2024 multi-year high. • Traders will need to closely monitor price action, as a confirmed breakout or rejection at the key levels will dictate the next move. Silver (XAG/USD) continues to build bullish momentum to a one-month high near $31.00. The price is approaching a critical resistance level at the 100-day SMA, and a breakout above this level could push silver toward $31.50, $32.00, and even $33.00. Technical indicators are supporting this bullish outlook as increased buying pressure is reinforcing the potential for an extended rally. The recent short-covering rally indicates that the corrective decline from October 2024’s multi-year peak may have ended, opening the way for further upside movement. XAG/USD Daily Chart TradingView Prepared by ELLYANA On the downside, immediate support is seen at $30.65, with the 200-day SMA around $30.00 acting as a crucial level for buyers. A break below this psychological mark could trigger a deeper correction, possibly driving prices toward $29.70 or lower. However, as long as silver remains above key support levels, any pullback is likely to be seen as a buying opportunity. These should be watched carefully by traders to see whether there is a confirmed breakout or rejection, which will give the next significant move for XAG/USD. TECHNICAL ANALYSIS Silver (XAG/USD) setup bullish, as the price remains above important support levels and approaches to a critical resistance near the 100-day SMA at $31.00. Momentum indicators have just turned positive again, especially through the RSI and moving averages. Thus, a strong break above it can be interpreted to further add support to potential additional upside breaks that could now touch the following resistances $31.50 then $32.00 followed by $33.00, which are a tough resistance and hence should take out $30.65; it has huge supports, even up to a barrier of its 200 DMA of $30.00 for support. A dip below this could make the mood turn bearish, which can cause a potential retest at $29.70. At large, the technical picture favors bulls, with any short-term correction expected to be seen as a buying opportunity. FORECAST Silver (XAG/USD) looks ready for a higher high since the bullish momentum continues to pick up steam with the price maintaining above critical support levels. A decisive breakout above the 100-day SMA at $31.00 should trigger a strong rally, driving silver toward the $31.50-$31.80 zone, then to the psychological barrier of $32.00. If buying pressure remains strong, silver could target the December swing high at $32.30 and potentially drive gains toward $32.75-$33.00, a level not seen since early November. Technical analysts such as RSI and MACD support a bullish outlook by way of increasing investor confidence in higher price levels. The continuation of the short-covering rally can further fuel upside movement. Again, silver’s improvement has bearish downside risks if it fails to sustain momentum above $31.00. Its resistance appears strong against a pullback back toward the first support at $30.65. If selling pressure increases, the price may test the 200-day SMA at $30.00, which is a significant psychological and technical support level. A confirmed break below $30.00 may shift sentiment bearish, and silver may drop to $29.70 and possibly $29.30. Macro factors such as a strengthening U.S. dollar or rising bond yields could also weigh on silver prices, leading to increased volatility in the near term. However, with key support levels

Read More
Commodities Silver

Silver Price Forecast: XAG/USD Strengthens Amid Bullish Momentum, Eyes Key Resistance Levels

  • BY
  • January 29, 2025
  • 0 Comments

Silver, XAG/USD, maintains its upward trajectory, trading near the weekly high in the mid-$30.00s, and technical indicators suggest further growth. The metal is facing key resistance at $31.00, aligned with the 100-day SMA. A break above this point could trigger a rally towards $31.50 and $32.30. A sustained move above these levels would confirm that the recent correction from its multi-year peak in October 2024 has actually ended, leading to further upside. However, powerful support remains at the 200-day SMA near $30.00 and a breakdown below here could leave silver susceptible to further downside risks, potentially re-testing the $29.00 area. KEY LOOKOUTS • Silver faces strong resistance near the 100-day SMA at $31.00. A decisive breakout above this level could trigger a rally towards $31.50 and the $32.30 region. • The 200-day SMA near the $30.00 psychological mark acts as a crucial support. A break below this level could push silver toward the $29.00 region, intensifying bearish pressure. • Technical indicators are showing renewed positive traction. If buyers can hold the reins, silver may continue to rally, marking the end of its corrective decline from its October 2024 peak. • A sustained move above key resistance levels may trigger short-covering rallies, leading to further upside movement, with the next targets set around $32.00 and the December swing high of $32.30. Silver (XAG/USD) remains bullish, trading near its weekly highs in the mid-$30.00s. A major resistance level at $31.00, coinciding with the 100-day SMA, is a critical barrier; a strong breakout above this level may propel the price towards $31.50 and the $32.30 area. On the downside, significant support at the 200-day SMA around $30.00 acts as an important cushion to bulls, while a breach of the low might place silver vulnerable to further selloffs to the $29.00 region. Technically, some positive momentum in indicators implies the corrective drop from the multi-year peak in October 2024 might have bottomed out. A sustained push above resistance could fuel short-covering rallies, reinforcing the bullish outlook for silver in the near term. Silver (XAG/USD) trades with a bullish bias near its weekly highs, facing key resistance at $31.00. A breakout could trigger a rally towards $31.50 and $32.30, while strong support at $30.00 may prevent further declines. Technical indicators suggest renewed bullish momentum, hinting at potential short-covering rallies. • Silver continues to rise, trading near the weekly high in the mid-$30.00s with positive technical signals. • The 100-day SMA at $31.00 is a key level; a breakout could drive prices toward $31.50 and $32.30. • The 200-day SMA near $30.00 remains strong support; a break below this level could expose silver to further downside risk. • A breakthrough above resistance might lead to short-covering, pushing the advance toward multi-month highs. • If silver can reach $31.50 or higher, then key points will be $32.00 and the high from December at $32.30. • A break beneath the low of the week around $29.70 might continue the downside toward $29.10 and $28.70, a multi-month low from December. •Chart indicators in daily time frames indicate gaining bullish momentum; the corrective phase most likely is already over. Further upside is possible. Silver (XAG/USD) maintains a positive sentiment and trades higher towards its weekly high in the mid-$30.00s. The metal has a crucial resistance area at $31.00, marked by the 100-day SMA. The metal’s potential to break above $31.00 and trigger further upside toward $31.50 and the December high $32.30 could be realized. Technical indicators on the daily chart are gaining positive momentum, reinforcing the bullish outlook. A successful breakout above these levels would indicate that the recent corrective decline from its October 2024 peak has run its course, paving the way for additional upside movement. XAG/USD Daily Chart TradingView Prepared by ELLYANA On the downside, strong support lies at the 200-day SMA, near the $30.00 psychological level. A breakdown through this support will increase bearish pressure, threatening silver with deeper losses toward $29.70 and potentially $28.70-a multi-month low hit in December. Traders should watch these important levels closely, as price action near them will define the metal’s next big move. In general, silver’s technical is bullish, as short-covering rallies are possible when resistance levels are cleared. TECHNICAL ANALYSIS Silver (XAG/USD) exhibits strong bullish momentum based on technical indicators, with price action nearing the key resistance level of $31.00, aligned with the 100-day SMA. A decisive breakout above this level could trigger further upside toward $31.50 and $32.30, confirming a continuation of the bullish trend. The RSI and MACD indicators on the daily chart are gaining positive traction, signaling buying strength. However, if it fails to break above $31.00, it could result in consolidation or a pullback towards the strong support near the 200-day SMA at $30.00. A breakdown below this level could expose silver to further declines toward the $29.70-$29.00 zone, which could intensify bearish pressure. Traders should look for volume spikes and momentum shifts to confirm potential breakouts or reversals. FORECAST Silver (XAG/USD) is trading at its weekly highs with a positive technical outlook, indicating strong bullish momentum. The immediate resistance level to watch is $31.00, marked by the 100-day SMA. A decisive breakout above this level could trigger a short-covering rally, pushing prices toward the $31.50-$31.60 region. Further buying interest can take the rally to the December swing high of $32.30 and, if the momentum continues, silver may even touch the $32.50-$33.00 range in the near term. The technical indicators are also bullish with RSI and MACD, showing that the recent correction from its October 2024 peak is done and silver will continue to rally. Even though there is a positive bias, silver remains vulnerable to downside risks if it fails to break above the key $31.00 resistance. There is strong support at the 200-day SMA near the psychological level of $30.00 that could prevent a deeper pullback. A convincing break below this level might trigger a decline toward $29.70, the weekly low. If selling pressure builds further, silver can fall to around $29.10-$29.00 and

Read More