From TradingView · · 1m
Silver tests a key support level
Silver is stuck in a wide range, with 62.60 now deciding whether sellers press lower or buyers force a rebound.
In brief
Silver is stuck in a wide range, with 62.60 now deciding whether sellers press lower or buyers force a rebound. Watch the daily close around 62.60, it is the near-term line between a drop toward 60.00 and a recovery attempt. Originally reported by TradingView.
Silver stays range-bound
XAG/USD remains inside a broad 55.00 to 70.00 trading range. Price has not broken either side, so the larger setup is still sideways.
Support is under test
Price is now pressing an intermediate support near 62.60. That level is the immediate marker traders are watching.
“price now testing an important intermediate support around 62.60”
Sellers have momentum
Recent weakness followed a rejection near the top of the range. That puts short-term pressure in sellers' hands.
A break opens 60
A decisive daily close below 62.60 could point XAG/USD toward 60.00. If selling keeps going, the range floor may come back into view.
Rejection favors recovery
If buyers strongly defend 62.60, the setup flips back toward another move higher inside the range.
The takeaway
Watch the daily close around 62.60, it is the near-term line between a drop toward 60.00 and a recovery attempt.
