Alex Bobrov
⬤ Silver is staying near the top of its recent range, with XAG holding just below $95 after a solid rally. The chart shows silver moving within a well-defined rising channel, where trading has become tighter over the last few sessions. The metal is pausing within a short-term formation, signaling a break in momentum rather than any kind of reversal.
⬤ The bigger picture on the chart reveals XAG climbing steadily from much lower territory earlier in the cycle, advancing from the mid-$70s up toward the mid-$90s. During this move, silver has kept building higher highs and higher lows while respecting both the lower and upper sides of the upward structure. With prices around $94.45 right now, the metal sits close to the upper channel resistance—a zone that's been capping recent attempts to push higher.
⬤ Over the past week, price swings have gotten smaller, showing less volatility compared to earlier in the rally. Dips within the channel have been limited, while bounces haven't produced strong follow-through in either direction. This kind of tightening usually reflects buyers protecting elevated prices while sellers stay cautious near resistance. The chart doesn't show any structural cracks, as XAG remains comfortably above the rising lower trendline.
⬤ This consolidation matters because it shows silver holding its ground after a long upward run. Stability near the upper edge of a rising channel can shape broader sentiment in precious metals, especially as traders evaluate whether these higher prices can stick. How XAGUSD behaves inside this range will likely influence short-term expectations for volatility and directional moves across the silver market.
Alex Bobrov
