Silver Price Forecast: XAG Holds $63 as Bulls Target $67 Channel Break
Silver (XAG/USD) is trading near $63.28 on the 4-hour chart, maintaining its position within a clearly defined ascending channel...
Quick overview
- Silver (XAG/USD) is trading around $63.28, maintaining an upward trend within a defined ascending channel since late November.
- The technical indicators, including moving averages, suggest a strong bullish trend, with key support levels at $61.80 and $60.15.
- Resistance levels to watch are $65.85 and $67.30, indicating potential targets for further price movement.
- Overall, the market shows signs of consolidation rather than a reversal, as momentum indicators remain positive.
Silver (XAG/USD) is trading near $63.28 on the 4-hour chart, maintaining its position within a clearly defined ascending channel that has guided prices higher since late November. As the candles on the chart show, the recent price action has been all about solid bullish closes punctuated by tiny, quick pullbacks. That’s not the sort of pattern you’d expect if the market was suddenly turning bearish; it suggests a more measured approach to profit-taking instead.
Moving Averages Confirm Trend Strength
The technical picture still looks super healthy. Silver is holding its own above those key moving averages; the 50-EMA is around $60.27 and the 100-EMA is hovering at $57.74, both of which are still climbing steadily. So that’s all green for the bulls.
That dashed median line in the channel shows steady upward progress, rather than any sign of sharp acceleration that can often mark the start of a trend’s end. If silver continues to follow this structure, the upper boundary of the channel is the next level to watch.
[[XAG/USD-graph]]
Upside Levels To Watch
- $65.85 – the first level of resistance we’re looking out for near the channel top.
- $67.30 – that’s where some prior projections and channel resistance come together.
Silver (XAG/USD) Momentum Supports Further Consolidation
The momentum indicators are all saying positive without flashing any red warning signals. The RSI is near 60, which is a good spot – strong but not overcooked. This suggests that we expect more consolidation within that channel rather than a sharp correction.
Now, on the downside, we’ve got immediate support at $61.80, and then $60.15, where the rising 50-EMA comes into play. A break below $61.80 would make that bullish scenario look less solid, but as long as that level holds, expect pullbacks to attract buyers.
Silver (XAG/USD) Trend Looks Intact – Channel Control Still Good
The price action suggests this is a market pause rather than a complete reversal. With trend structure, moving averages, and momentum all aligned, it’s still a bullish bias unless that support at $61.80 gives way.
Levels To Watch Out For
- Support: $61.80 → $60.15
- Resistance: $65.85 → $67.30
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