24 Jun 2026
📊 Silver (XAG/USD) Technical Analysis
Silver is currently attempting to stabilize after a sharp decline of over 5% in the previous session, but the broader structure still favors sellers. Price action remains trapped inside a descending channel, confirming that the dominant trend is still bearish despite short-term rebounds.
At the moment, XAG/USD is trading around $61.70, struggling to recover meaningfully after hitting a fresh six-month low at $60.74. This level now acts as immediate support, and a break below it would likely accelerate downside momentum toward the lower boundary of the descending channel near $56.20, which represents the next major bearish target.
Momentum indicators reinforce the current pressure. The 14-day RSI near 33 signals that the market is approaching oversold conditions, but not yet showing a confirmed reversal. This suggests sellers are still in control, even though downside momentum may slow in the short term.
On the upside, recovery attempts are currently capped below key dynamic resistance levels. The first barrier is the 9-day EMA at $65.15, followed by stronger resistance near the upper boundary of the descending channel around $68.70. A sustained break above this structure would be required to signal a shift from bearish continuation to potential bullish reversal.
Overall, while oversold conditions may trigger temporary rebounds, the prevailing trend remains bearish unless $65.15 is reclaimed decisively.
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