XAGUSD is shifting to a clear bullish structure on the H1 timeframe after breaking the previous downtrend and consistently forming higher lows within an ascending price channel. The price is currently trading near the channel's upper boundary, reflecting sustained bullish momentum, despite the potential for short-term pullbacks.
Based on the chart scenario, the price may retrace to test the 56.58 support zone, which aligns with the lower boundary of the bullish channel. If buyers successfully defend this area, XAGUSD is likely to resume its upward trend and target the 58.77 level at the channel's upper boundary.
Fundamentally, silver remains supported by the outlook for industrial demand, particularly from the AI, electronics, and clean energy sectors. Although the US dollar and US bond yields remain sources of volatility, the current technical structure favors a continued recovery.
Strategy: Prioritize BUY positions if the price holds above 56.58 and a bullish confirmation signal appears; target 58.77. The bullish scenario is invalidated if the price closes below this support zone on the H1 timeframe.
Based on the chart scenario, the price may retrace to test the 56.58 support zone, which aligns with the lower boundary of the bullish channel. If buyers successfully defend this area, XAGUSD is likely to resume its upward trend and target the 58.77 level at the channel's upper boundary.
Fundamentally, silver remains supported by the outlook for industrial demand, particularly from the AI, electronics, and clean energy sectors. Although the US dollar and US bond yields remain sources of volatility, the current technical structure favors a continued recovery.
Strategy: Prioritize BUY positions if the price holds above 56.58 and a bullish confirmation signal appears; target 58.77. The bullish scenario is invalidated if the price closes below this support zone on the H1 timeframe.
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