Silver Price Forecast: Sideways below $60 as RSI bounce eyes breakout
Silver price extended its gains for the second consecutive day, up by over 1.25%, yet it remains below the $60.00 figure, consolidated near the year’s low.
XAG/USD Price Forecast: Technical outlook
Price action shows Silver trading within the $55.70-$60.00 range for the last five straight days, poised for further sideways trading. Momentum, as measured by the Relative Strength Index (RSI), is bearish despite aiming upwards. This suggests that the white metal could be set for a bounce to challenge the top of the trading range.
If XAG/USD rises above $60.00, it clears the path to test the next higher high at $71.56, the June 17 daily peak. On further strength, buyers can test the 200-day Simple Moving Average (SMA) at $69.80. Overhead lies the $70.00 milestone.
On the flip side, if Silver tumbles below the year-to-date (YTD) low of $55.70, the next support would be the November 25, 2025, daily high-turned-support at $54.39, ahead of the psychological $50.00 mark.
XAG/USD Price Chart – Daily
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The "Outlier" Investment Art in the New Era of Berky
Chevron (CVX.US) explores alternative hedging for Middle East supply disruptions: targets Argentina and the Mediterranean to drive global LNG growth, seeks deal with India
Chevron is focusing on Argentina and the Mediterranean region, seeking global growth in liquefied natural gas, and plans to reach an agreement with India.
Energy and food price pressures intensify, potentially triggering an inflation rebound! The Bank of England may struggle to remain "calm" as market rate hike bets surge
The upward pressure on energy prices caused by the unresolved Middle East war is mounting. New risks are also approaching, which may keep inflation above the Bank of England’s 2% target for most of next year.
AstraZeneca (AZN.US) Breast Cancer Drug Etcamah Faces Setback in Phase III Clinical Trial, Potentially Impacting Billions in Sales
Bloomberg Intelligence analyst John Murphy stated that the setback in AstraZeneca's breast cancer drug trial could reduce sales in 2035 by $2.6 billion to $3.8 billion.
Crypto prices
More
