Nataly Kambur
⬤ Silver prices suffered a brutal collapse, dropping from the $121 level down to $73 in one of the most violent sessions seen recently. XAG/USD managed to recover somewhat and closed the week around $85, leaving behind a long lower wick on the weekly candle that signals extreme downside pressure followed by partial buying interest.
⬤ That long lower wick suggests the selloff may not be finished. Early next week, silver could revisit part of that downside move, potentially pulling back toward the $77–$78 area as the market tries to find balance after such an abrupt drop. While a full return to $73 isn't the main scenario, further downside pressure remains on the table.
⬤ After any short-term retracement, silver is likely to attempt a corrective bounce higher. The technical path points toward a recovery rally targeting the $98 zone, where price may spend time consolidating rather than resuming any bullish momentum. "This phase could involve choppy movement as supply increases around resistance," reflecting distribution rather than renewed strength.
⬤ The $98 area could become a key distribution zone before another significant leg down develops. Following consolidation at that level, a deeper decline toward $55 remains possible. This entire sequence isn't expected to play out over days but rather across six to eight weeks, highlighting ongoing volatility and the need for careful monitoring of price structure.
Nataly Kambur
