Silver's Rally Reaches Critical Resistance
Silver continues to respect the extended trendline (May 2024–Jan 2025), marking the upper boundary of an expanding consolidation.
A rebound from $28.80 lifted XAGUSD toward the 32.60 resistance, aligning with the lower border of the Oct 2023–Oct 2024 uptrend, supported by haven demand from Trump Tariffs & Trade Wars.
Retracement risks are rising at the lower channel border. A decisive close above 32.60 is needed to extend gains toward 35, 37 & 40. Failure to break higher may trigger a pullback to 30, with further support levels at 29.50, 28 & 26.
- Razan Hilal, CMT
A rebound from $28.80 lifted XAGUSD toward the 32.60 resistance, aligning with the lower border of the Oct 2023–Oct 2024 uptrend, supported by haven demand from Trump Tariffs & Trade Wars.
Retracement risks are rising at the lower channel border. A decisive close above 32.60 is needed to extend gains toward 35, 37 & 40. Failure to break higher may trigger a pullback to 30, with further support levels at 29.50, 28 & 26.
- Razan Hilal, CMT
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