Silver Price Prediction: XAG/USD Holds Above $38.00, Bullish Momentum Builds

Silver Price Prediction: XAG/USD Steady Above $38.00 with Eyes on $39.13 Resistance

XAG/USD Holds Ground Amid Bullish Technical Setup

The Silver price (XAG/USD) remains stable during early Monday trading in Asia, hovering near $38.20 per troy ounce. Despite recording minor losses in the previous session, the metal is showing strong bullish bias as price action unfolds within a well-defined ascending channel on the daily chart.

Technical Indicators Support the Bullish Outlook

• The 14-day Relative Strength Index (RSI) continues to trend above the neutral 50 level, reinforcing bullish momentum.
• XAG/USD is also trading above the nine-day Exponential Moving Average (EMA), currently near $37.79, indicating short-term strength in price action.

Key Levels to Watch

• Immediate resistance lies at $39.13, which marks the highest level seen since September 2011. The level was last tested on July 14, and a breakout above it could trigger strong upside acceleration.
• If bulls overcome this resistance, the next target will be the upper boundary of the ascending channel near the psychological level of $41.50.

On the downside, initial support lies around the nine-day EMA, with deeper pullbacks likely limited unless bearish momentum increases significantly.

Conclusion: Silver Bulls in Control for Now

The broader technical structure suggests XAG/USD may continue its climb, especially if bullish momentum holds and macroeconomic risk appetite remains tilted toward precious metals as safe-haven assets. A decisive move above $39.13 would likely open the door for a test of $41.50.

Read More on Tredu.com:

• Gold and Silver: Which Metal Has More Upside?
• Technical Guide: How to Use RSI and EMA in Metals Trading
• Top Resistance Levels to Watch for XAG/USD