The XAGUSD chart on the H4 timeframe is showing a clear picture: silver is still under medium-term downtrend pressure. After several attempts to recover but failing to break through the upper resistance zone, the price continues to be squeezed within the downtrend channel, reflecting that sellers still control the main market movement.
The most noteworthy point is the 66,499 zone. This is not only a near-term resistance, but also the intersection area between the upper edge of the downtrend channel, the Ichimoku zone above, and the price zone where a previous selling reaction occurred. In other words, if XAGUSD recovers to this area but fails to close strongly above, the market is very likely to form another price rejection.
Structurally, silver is still creating progressively weaker pullbacks. Each time the price approaches the resistance zone, the buying pressure lacks the necessary explosive force to reverse the trend. With the USD still supported and precious metals under pressure from high interest rate expectations, the current rallies in XAGUSD should be seen as areas to observe selling pressure rather than buy signals.
My preferred scenario is a technical rebound in XAGUSD to the 65.50 – 66.50 region, followed by a rejection signal at resistance and a continued decline along the main channel. If selling pressure persists, the next target could be 57.640, coinciding with the lower end of the current downtrend structure.
Reference strategy:
SELL: 65.50 – 66.50
SL: above 67.30
TP: 57.640
The most noteworthy point is the 66,499 zone. This is not only a near-term resistance, but also the intersection area between the upper edge of the downtrend channel, the Ichimoku zone above, and the price zone where a previous selling reaction occurred. In other words, if XAGUSD recovers to this area but fails to close strongly above, the market is very likely to form another price rejection.
Structurally, silver is still creating progressively weaker pullbacks. Each time the price approaches the resistance zone, the buying pressure lacks the necessary explosive force to reverse the trend. With the USD still supported and precious metals under pressure from high interest rate expectations, the current rallies in XAGUSD should be seen as areas to observe selling pressure rather than buy signals.
My preferred scenario is a technical rebound in XAGUSD to the 65.50 – 66.50 region, followed by a rejection signal at resistance and a continued decline along the main channel. If selling pressure persists, the next target could be 57.640, coinciding with the lower end of the current downtrend structure.
Reference strategy:
SELL: 65.50 – 66.50
SL: above 67.30
TP: 57.640
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LEVEL UP YOUR TRADING
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.