Silver Price Rebounds to $36.86 as Traders Eye Breakout Above $37.29 Resistance
Silver (XAG/USD) is holding steady at $36.86 after rebounding from the midline of a rising price channel that has defined the uptrend since.

Quick overview
- Silver (XAG/USD) is currently stable at $36.86, having rebounded from a key support level at $36.50.
- The near-term outlook is bullish, with $37.05 acting as a significant resistance level that, if surpassed, could lead to targets of $37.29 and $37.59.
- The recent U.S. jobs report indicates strong employment but slower wage growth, impacting expectations for future rate cuts.
- As long as silver remains above $36.32, the bullish trend is intact, with potential for further gains if momentum builds.
Silver (XAG/USD) is holding steady at $36.86 after rebounding from the midline of a rising price channel that has defined the uptrend since late June. Buyers stepped in near $36.50—right at the 50-period EMA—helping the metal avoid a deeper pullback. The $36.62 level continues to serve as a key horizontal support, while the series of higher lows confirms bullish market structure.
The near-term bias remains upward, though silver is showing signs of short-term consolidation just below $37.05. That level has rejected price action in prior sessions, making it the next major hurdle for bulls. If cleared, upside targets open at $37.29 and potentially $37.59 in the coming days.
US Jobs Report Dampens July Rate Cut Hopes
Friday’s U.S. Nonfarm Payrolls report came in stronger than expected, with 147,000 jobs added in June compared to the 111,000 forecast. The unemployment rate ticked lower to 4.1%, signaling continued labor market resilience. However, wage growth slowed to just 0.2% for the month—down from 0.4% in May—easing inflation worries.
While strong employment numbers reduce the chance of a July rate cut, the slowdown in wages has kept market expectations alive for two 25-basis-point cuts by year-end. This mix of macro signals continues to support gold and silver in the medium term, as rate-sensitive assets tend to benefit from monetary easing.
Technical Outlook: Momentum Pauses Before Breakout
Silver remains inside a rising channel, with momentum slightly cooling after a strong run. The MACD histogram is flattening, and a potential bearish crossover is forming, but confirmation is still needed. For now, as long as price holds above $36.32 and the 50 EMA, buyers have the upper hand.

- Support levels: $36.62, $36.32, $35.97
- Resistance levels: $37.05, $37.29, $37.59
- Bias: Bullish while above $36.32
- MACD: Weakening, but trend still intact
- Next move: Watch for breakout or pullback to 50 EMA for re-entry
Conclusion
Silver’s bullish trend remains valid as long as support at $36.32 holds. A clean break above $37.05 could attract fresh momentum, especially if volume increases. With inflation pressure easing and market uncertainty lingering, silver is well-positioned to gain further ground in the coming sessions.
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