Silver Price Holds at $36.75 With Bullish Setup Intact Despite Minor Pullback

Silver Price Holds at $36.75 With Bullish Setup Intact Despite Minor Pullback

Silver (XAG/USD) is trading in a tight range near $36.75 during the Asian session on Thursday, recovering from a mild pullback off Wednesday’s multi-year high near $37.35, its highest level since February 2012. The metal has so far stabilized, maintaining a bullish near-term technical bias.

Bullish Momentum Still in Play

The price action shows that silver's trend remains upward, with a successful breakout from a short-term descending channel, which resembled a classic bullish flag formation. The $36.45–$36.50 support zone now holds as a solid base for the current rally.

🟢 Technical confirmation includes:

• RSI cooling from overbought territory
• Continuation above former channel resistance
• Strong buyer interest on minor dips

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Key Levels to Watch

• Immediate support: $36.45–$36.50
• Next resistance: $37.00 (psychological), followed by $37.30–$37.35 (multi-year peak)
• Breakout target: $38.00, with further extension to $38.50–$38.55

Only a strong drop below $36.00 would invalidate the bullish thesis and trigger deeper corrections.

Conclusion

While silver is showing neutral short-term movement, the underlying technical picture favors continued upside. Traders will be watching for a breakout above $37.00 to confirm another leg higher in the ongoing bull run.

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