XAGUSD: deeper downside

Apr 2

🛠 Technical Analysis: On the 4-hour timeframe, Silver is trading inside a bearish wedge after recovering from the 64.00–66.00 support area, but the rebound is losing momentum beneath the 74.00–75.00 resistance zone. The chart still reflects a broader bearish structure, with price remaining far below the SMA 100 and SMA 200, while the recent move higher looks more corrective than impulsive. The latest rejection from the upper wedge boundary suggests that sellers are reacting again as the market approaches overhead supply. There is still room for a brief retest toward 76.00–77.00, but unless that area is reclaimed cleanly, the move is more likely to attract fresh selling pressure. The key near-term support is the 64.00–66.00 zone, and a confirmed break below it would expose a much deeper continuation lower. In the broader picture, the chart points to 57.76 as the main bearish target if downside momentum expands.

———————————————
❗️Trade Parameters (SELL)
———————————————
➡️ Entry Point: Sell on bearish rejection below 74.00–75.00 or on confirmed weakness below 70.00

🎯 Take Profit: 57.762

🔴 Stop Loss: 78.536

⚠️ Disclaimer: This is a potential trade idea based on current analysis; market conditions and price direction are subject to change based on news factors and volatility.

Apr 2

Note

🌍 Fundamental Analysis: Fundamentally, Silver remains vulnerable because the macro backdrop still favors the US Dollar, while analysts continue to flag the broader geopolitical picture and inflation risks tied to the Middle East as supportive for a firmer dollar environment. Recent market commentary also points to the 74.6 area as a major resistance zone for XAGUSD, with downside risks dominating while that ceiling holds. In other words, SILVER can still see short-lived rebounds on volatility, but unless buyers reclaim the higher resistance band, the broader balance still favors another leg lower.

Apr 3

Trade active

Silver's situation is clearer in the short term, although the weekend could change things. A move to 69 and possibly lower is expected. However, price action will need to be closely monitored, as the 75-77 range will likely be tested before a further, highly probable decline.

Apr 6

Trade closed manually

Apr 7

Note

XAGUSD, like XAUUSD, maintains a fairly strong sales priority, but there may be short-term upward surges (in the form of manipulation).