- Silver gains 1.33% on Friday but ends the week down 2.30%.
- The technical outlook remains neutral, with a bullish shift possible if Silver breaks above the $31.00 resistance level.
- Downside risks remain if Silver drops below $30.35, with the next support at $30.00.
Silver advanced 1.33% on Friday, closing the session at $30.60, but ended the week with a 2.30% loss. A weaker U.S. Dollar supported the metal’s recovery, pushing it above the 100-day Simple Moving Average (SMA) at $30.35.
XAG/USD Price Forecast: Technical Outlook
Silver remains neutral to slightly bearish, consolidating within a $29.64–$31.52 range around the 100-day SMA. Neither buyers nor sellers have gained a decisive edge.
The Relative Strength Index (RSI) remains bearish, but early signs of buyer momentum are emerging. For a bullish breakout, Silver must surpass the $31.00 resistance. A successful move above this level could target $31.52, followed by the 50-day SMA at $31.74 and the psychological $32.00 mark.
Conversely, a drop below the 100-day SMA at $30.35 would expose the $30.00 support level. Further declines could push Silver toward the 200-day SMA at $29.10, indicating additional downside risk.
XAG/USD Price Chart - Daily
