Silver Price Forecast: XAG/USD Slips Below $36.00, Bearish Momentum Builds

Silver Price Forecast: XAG/USD Slips to One-Week Low Below $36.00

Key Points:

• XAG/USD falls for the third consecutive session, hitting a one-week low near $35.65.
• Break below the 23.6% Fibonacci retracement of the May-June rally triggers bearish sentiment.
• Momentum indicators support further downside, especially if 100-SMA on the 4-hour chart is breached.
• Key targets to watch: $35.15, $35.00, $34.75, and $34.45 (50% Fibo. level).

XAG/USD Weakens Further as Sellers Dominate

Silver prices have come under sustained selling pressure, dropping for the third straight day in Friday’s Asian trading session. The white metal has retreated from its multi-year highs around $37.00 and is currently trading near $35.65, marking a notable retracement from this week’s peak.

The inability to hold above the $37.00 resistance and subsequent slide below the 23.6% Fibonacci level of the recent rally suggest that bears are firmly in control. This break signals a shift in momentum and may lead to a deeper corrective move.

Technical Outlook: XAG/USD Points to Further Weakness

Oscillators on the 4-hour chart are gaining bearish traction, and a decisive move below the mid-$35.00s region — especially beneath the 100-period SMA — could act as a trigger for further declines.

If selling persists:

• Next support sits at the 38.2% Fibonacci retracement near $35.15, followed by the $35.00 psychological level.
• Below that, watch for intermediate support at $34.75 and finally, the 50% Fibo. level near $34.45.
• A break of the $34.45 zone would be a strong technical confirmation that Silver may have topped out, increasing the probability of larger downside moves in the medium term.

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