XAGUSD | Daily Technical Outlook
Market Structure
XAGUSD has entered a corrective recovery after a sharp bearish selloff erased a large portion of the prior upside move. The aggressive decline broke multiple short-term supports, confirming a shift in momentum from bullish to corrective.
Recent price action shows an attempt to stabilize from the lows, but the rebound remains technical in nature and lacks strong bullish follow-through so far.
Key Resistance Zone
Immediate resistance is located around 104.50 – 105.50, the zone formed by the recent breakdown and moving average confluence. Any upside move into this area is likely to attract selling pressure.
Additional resistance levels:
- 108.00
- 112.00 – 114.00 (major bearish rejection zone)
As long as price remains below 105.50, upside attempts are likely to stay corrective.
Key Support Zone
Immediate support is holding around 100.00 – 101.00, where buyers stepped in after the sharp selloff.
A failure to hold this zone would reopen downside risk toward:
- 97.00
- 94.00 – 95.00 (major structural support)
A decisive break below 94.00 would significantly deepen the corrective phase.
Expectations
Bearish Scenario (Primary)
The broader structure favors continued pressure while price trades below 105.50.
A rejection from resistance could trigger another leg lower toward 100.00, with extension risk toward 97.00.
Bullish Scenario (Alternative)
A sustained break above 105.50 would signal improving short-term momentum, opening the door for a recovery toward:
• 108.00
• 112.00
However, a bullish continuation would require strong acceptance above resistance.
Outlook
Silver remains in a corrective phase following the sharp selloff, with sellers still structurally in control below key resistance. While short-term stabilization is visible, the overall bias stays cautious unless price can reclaim levels above 105.50.
