XAGUSD Is Not Stalling — Buyers Are Quietly Building Pressure

Sep 9

If I look at XAGUSD right now, I don’t see a market that is losing strength. What I see is silver quietly building a base while buyers continue to defend the same support area.

The latest macro backdrop is giving silver some breathing room. A softer U.S. dollar is helping precious metals, while geopolitical uncertainty continues to support defensive demand. Stronger Chinese trade activity also provides a positive backdrop for silver’s industrial side. The main risk remains U.S. inflation and Fed expectations, but for now, these pressures have not been enough to force silver into a deeper selloff.

On the H2 chart, the 65.50–66.10 area is doing exactly what support should do. Sellers have tested this region several times, yet price continues to recover. At the same time, XAGUSD is holding around the Ichimoku structure and gradually pressing against 67.19. To me, this looks less like weakness and more like a market absorbing supply before deciding its next direction.

The current sideways movement should therefore be viewed as a consolidation phase rather than a confirmed bearish reversal. Silver does not need to rally immediately for the bullish idea to remain valid — it simply needs buyers to keep protecting the current price base.

As long as 65.50–66.10 continues to hold, I see a good chance of another attempt at 67.19. A clean breakout there could unlock momentum toward 69.88, with the major 70.70–71.20 resistance zone becoming the next area to watch.

This is the kind of setup where patience matters more than chasing candles — sometimes the strongest move begins when the market looks the quietest.

Sep 10

Trade active

Sep 11

Order cancelled