-2.41% for Silver as bears target the $71.50 support zone

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Silver slides 2.41% to $72.85 today

Highlights

Silver remains under firm selling pressure, trading below key averages and opening with a significant gap down to $72.30.
Momentum indicators across multiple timeframes show weak or neutral signals, confirming sellers retain control despite oversold readings.
Projected five-day range is $71.50–$74.00, with high probability of sustained downside unless silver breaks above the $74.00 resistance.

Momentum weakens as sellers dominate near oversold boundaries

Technically, XAG began the session with a clear gap down and is trading near the lower end of a volatile intraday range between $71.81 and $73.63. The current value sits beneath the SMA-20 ($78.57), SMA-50 ($76.76), and SMA-200 ($74.31), with the Ichimoku Kijun level at $80.13 acting as immediate resistance overhead. Momentum readings on D1 show MACD and ADX signaling weak or neutral momentum, while daily RSI, CCI, and BBP readings consistently indicate persisting seller dominance and oversold conditions. The Stoch RSI remains deeply oversold, while the Awesome Oscillator is neutral, offering no clear directional reinforcement. Divergence across several oversold indicators could be an early sign of a possible rebound, but short-term price action and momentum bias still align with seller control.

Downside risk prevails as resistance caps price recovery

For the next five trading days, silver’s expected range is adjusted to $71.50 – $74.00, capturing plausible volatility around current levels. Technical evidence from the weekly MA-50, RSI, and MACD supports a high probability (greater than 80%) of sustained downside pressure, with any price recovery scenario requiring a decisive break above $74.00 to challenge the SMA-200 and Kijun as resistance. Should XAG close below $71.50, further downside risk would be confirmed. The baseline scenario anticipates continued sideways consolidation below immediate resistance amid high volatility.

Viktoras Karapetjanc, analyst at Traders Union, believes silver remains under pressure but sees signals that could hint at a rebound if broader market dynamics shift. He notes that key momentum indicators suggest sellers still control the market, with a sustained move below $71.50 increasing downside risk. However, as oversold readings build across several technical tools, Karapetjanc is constructive on the chance for stabilization if resistance at $74.00 is challenged. "While the near-term outlook is weak, I remain confident that silver can stage a recovery if it holds above support and global sentiment improves," he says.

Earlier, analysts noted that silver faced persistent bearish momentum amid regulatory headwinds and sustained seller dominance. With fresh lows and deepening oversold signals now aligning with intensified volatility, traders should focus on the $71.50 level as a key inflection point for the next move.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.