The **XAG/USD (Silver)** 1-hour chart shows a strong bullish recovery after rebounding from the major **56.00 support zone**. Price has been respecting an **ascending channel**, printing a series of higher highs and higher lows, confirming that buyers remain in control.
The Ichimoku Cloud has shifted into a bullish configuration, with price trading above the cloud, indicating improving trend strength and positive momentum. Following a clean breakout from the recent consolidation inside the rising channel, silver is now holding above **62.00**, suggesting that buyers are defending the breakout.
If bullish momentum continues, the next upside objective is **65.30**, which aligns with the projected measured move and serves as the immediate target. A sustained move above this level could expose the broader **68.00–68.50 resistance zone**, where stronger selling pressure may emerge.
However, traders should monitor the lower boundary of the ascending channel. A breakdown below channel support and the Ichimoku Cloud would weaken the bullish outlook and could trigger a deeper pullback toward the **60.50** and **56.00 support levels**.
### **Target: 🎯 65.30**
**Bias:** Bullish 📈
**Key Support:** 60.50 and 56.00
**Major Resistance:** 68.00–68.50
The Ichimoku Cloud has shifted into a bullish configuration, with price trading above the cloud, indicating improving trend strength and positive momentum. Following a clean breakout from the recent consolidation inside the rising channel, silver is now holding above **62.00**, suggesting that buyers are defending the breakout.
If bullish momentum continues, the next upside objective is **65.30**, which aligns with the projected measured move and serves as the immediate target. A sustained move above this level could expose the broader **68.00–68.50 resistance zone**, where stronger selling pressure may emerge.
However, traders should monitor the lower boundary of the ascending channel. A breakdown below channel support and the Ichimoku Cloud would weaken the bullish outlook and could trigger a deeper pullback toward the **60.50** and **56.00 support levels**.
### **Target: 🎯 65.30**
**Bias:** Bullish 📈
**Key Support:** 60.50 and 56.00
**Major Resistance:** 68.00–68.50
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