Silver price forecast: $64.57 resistance in focus as XAG trades sideways

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Silver up 0.34% today, trades at $63.56

Highlights

Non-renewal of the US-Iran ceasefire has pushed oil prices higher and stoked global inflation concerns.
Rising inflation fears have raised the prospect of potential central bank rate hikes, reducing the relative appeal of silver.
Silver trades below key moving averages with momentum indicators showing ongoing bearish pressure and a projected range of $62.06 to $65.06 over the next 2 to 3 trading days.

Inflation concerns weigh on silver as rate hike fears rise

The non-renewal of the US-Iran ceasefire has resulted in higher oil prices and fueled global inflation concerns, as reported by Fxstreet. These inflationary pressures have raised apprehensions about potential central bank rate hikes, which can diminish the relative appeal of non-yielding assets like Silver. Such macroeconomic developments have contributed to shaping sentiment and trading activity in the metal.

Bearish momentum strengthens with sellers dominant below key resistance

On the technical front, XAG trades below the MA-20 at $64.74, MA-50 at $64.77, and remains well under the MA-200 at $74.74. The Ichimoku Kijun resistance is at $64.57, marking the nearest major overhead barrier. Momentum indicators on the H4 show RSI at 42.12, with MACD and ADX both registering sell signals, while Stochastic RSI is neutral. CCI and Bull/Bear Power are both in oversold territory, highlighting the strength of sellers on the intraday setup, and the Awesome Oscillator confirms continued downside momentum.

Balanced risk outlook as sideways trading range expected

Looking ahead, Silver is forecast to trade sideways over the next 2–3 sessions, with the projected range between $62.06 and $65.06. The probability of an upward move stands at 48%, with a slightly higher 52% chance for a downside scenario. A breakout above resistance at $64.57 could open the way for further gains, while a drop below $62.06 would likely deepen downward momentum.

Anton Kharitonov, analyst at Traders Union, sees Silver under clear pressure as it trades firmly below key moving averages and faces persistent selling momentum. He notes that geopolitical risks and rising inflation concerns, highlighted by Fxstreet, are weighing on sentiment and limiting upside traction. With intraday indicators still bearish and no strong bullish triggers in sight, the short-term outlook remains neutral to weak. "Unless Silver decisively reclaims $64.57, I view any rebound attempts as vulnerable to renewed selling," says Kharitonov.

Earlier, analysts noted that silver remained under sustained selling pressure with a prevailing downside bias amid technical resistance. The current analysis adds a new dimension by highlighting fresh macroeconomic headwinds, with traders advised to monitor $64.57 as a key level for any potential reversal in the near term.

Source of Data: XAG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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