Silver (XAG/USD) oscillated in a narrow range around the $36.75 area during the Asian session on Thursday (June 19) and for now, seems to have stalled the previous day's modest decline from its highest level since February 2012. Meanwhile, the technical setup favors bullish traders and suggests that the path of least resistance for the white metal is to the upside.
A sustained strength beyond the $36.45-$36.50 mark confirms a breakout through a short-term descending trend channel, which constitutes the formation of a bullish flag pattern. Moreover, the Relative Strength Index (RSI) on the daily chart has also eased from the overbought territory. This, along with positive oscillators, validates the near-term constructive outlook for XAG/USD.
Hence, a subsequent move beyond the $37.00 round-figure, towards retesting multi-year highs around the $37.30-$37.35 region touched on Wednesday, looks a real possibility. Some follow-through buying beyond mid-$37.00s, or February 2012 highs, should enable XAG/USD to reclaim the $38.00 mark and climb towards the next relevant hurdle near the $38.50-$38.55 region.
On the flip side, the 50-period Simple Moving Average (SMA) on the 4-hourly chart, near the $36.55 region, could provide some support ahead of the trend-channel breakout point, currently around the $36.30 region. This is followed by the weekly lows, around the $36.15 region, and the round-figure. The latter should act as a key pivotal point, which if broken could shift the near-term bias in favor of bears.(alg)
Source: FXstreet
Silver prices (XAG/USD) reversed their decline on Wednesday (January 7th) after three sessions of surges. Silver fell around 2.5% to around US$79.27 per troy ounce in the latest trading session, marki...
The silver market remains firmly focused on the fundamentals that support today's high prices. Despite some corrections in recent days, the underlying structure of the silver market remains tight due ...
Silver rose to around $79 per ounce on Tuesday, marking a third consecutive session of gains and moving toward record levels. The US attack on Venezuela and the capture of President Nicolas Maduro add...
Silver prices strengthened today, January 2, 2026, as investor interest increased at the start of the year. Market sentiment was driven by persistently high global uncertainty, leading silver to regai...
Silver prices traded steadily on Wednesday, December 31, 2025, as the year draws to a close. Price movements tended to be limited as many investors opted to hold off amid low liquidity and a relativel...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...