Silver (XAG/USD), Technical Analysis – H1
The asset remains inside an ascending channel but is currently in its downward phase.
The asset remains inside an ascending channel but is currently in its downward phase. No clear short signals have formed yet, so traders should exercise patience until the price reaches the lower boundary of the channel (the $58 per ounce area). A new upward swing toward 61.60 can be expected from there.
Key Levels:
□ 58.00 (lower channel boundary / key support)
□ 59.50–60.50 (current range)
□ 61.60 (next upside target)
Primary Scenario:
Decline toward 58.00, followed by an upward reversal.
Alternative Scenario:
Sideways ranging within the 59.50–60.50 zone.
Analyst Commentary:
Medium-term trading with limit (pending) orders at the channel boundaries is acceptable.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.