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XAGUSD: Silver Holds Upward Trendline, Buyers Await a Push

XAGUSD is trading around 76.884, after a slight correction but still holding the important structural area above the ascending trendline. This indicates that current selling pressure is not strong enough to break the medium-term uptrend.

My focus is on the 74.368 area. This is not only a technical support level on the chart, but also a crucial area that could determine whether the current rally continues. If silver retests this area and clear buying pressure emerges, I expect the price to bounce back to the 79.92 – 80.146 range.

Regarding news, the weakening USD is giving an advantage to precious metals, while silver is also supported by expectations of money flowing back into commodities. However, the market is still awaiting US inflation data, so any upward movements may not be straightforward but could be accompanied by volatility.

Reference strategy:
Good buy opportunity: around 74.36 – 75.00 if there are signs of price consolidation
TP1: 79.90
TP2: 80.146