Silver Price Slides Below $36.50, Eyes Support at 9-Day EMA

Silver Price Slides Below $36.50, Eyes Support at 9-Day EMA

Silver (XAG/USD) is trading slightly lower on Thursday near $36.40, extending a modest correction after gaining nearly 1% in the previous session. Despite the dip, the broader trend remains bullish, supported by technical indicators and the continuation of an ascending price channel.

Technical Outlook: Bullish Structure Intact

The daily chart shows that XAG/USD continues to move within a well-defined ascending channel, signaling strength in the bullish trend.

• The 14-day RSI remains above the neutral 50 mark, affirming bullish market sentiment.
• The price is holding above the 9-day EMA at $36.22, a key short-term support level.

If Silver holds this EMA support, it could retest the $37.00 resistance at the upper edge of the channel. A break above this level opens the path toward $37.32, the highest point since February 2012, with $38.00 as a long-term target.

Key Levels to Watch

• Support: $36.22 (9-day EMA), $35.85 (mid-channel)
• Resistance: $37.00 (channel top), $37.32 (multi-year high), $38.00 (psychological level)

Stay ahead of the metals market with expert technical analysis on Tredu.com — your source for reliable price forecasts and actionable insights.