Tatiana Dementieva
⬤ Silver prices exploded higher after bouncing hard from the previous EU session low, with XAG/USD climbing about 20% before running into a well-defined resistance zone. The recovery has pushed price all the way back to the pre-Asia swing high near $87.95—also the week's high—where sellers previously stepped in.
⬤ The chart shows silver built a solid base after the initial drop, then climbed steadily with higher lows and higher highs. The RSI has recovered into the mid-50s, showing improving momentum without hitting overbought territory yet. Price is now bumping against a descending moving average, adding extra weight to the resistance zone.
⬤ The pre-Asia swing high matters because it's where price got rejected before and lines up with a clear horizontal resistance level. Silver has already hesitated here, suggesting sellers are waking up. That means we're looking at either consolidation or a pullback unless buyers can punch through cleanly.
⬤ This setup is worth watching because gold is showing similar behavior—both metals are testing resistance after sharp rebounds. If silver breaks above the pre-Asia high, it confirms the bullish recovery is real. A rejection here could trigger a correction. With XAG/USD sitting at this inflection point, what happens next will likely set the tone for precious metals volatility in the coming sessions.
Tatiana Dementieva
