Silver prices remain in a neutral consolidation phase, struggling to clear the $53.37-$53.96 resistance zone despite constructive momentum indicators like the RSI at 58.
Silver pulled back from a one-and-a-half-week high near $53.70-$53.75 amid US Dollar buying but holds above $53.00. Momentum indicators (RSI around 58, positive MACD) are supportive, yet price stays capped below the 23.6% Fibonacci at $53.96 and the 100-period SMA at $53.37, so neither a bullish breakout nor a bearish break is confirmed.
Silver (XAG/USD) retreated from a one-and-a-half-week high near $53.75 on Tuesday as renewed US Dollar buying capped gains. While the metal maintains support above $53.00, it remains constrained below the 100-period SMA at $53.37 and the 23.6% Fibonacci retracement level of $53.96.
The technical picture is mixed: momentum is constructive, but silver is capped below resistance at $53.37-$53.96. Only a break above that zone would confirm a bottom near $48.65, while a fall below $48.65 would point to deeper losses.
Upside hurdles sit at $53.37, $53.96, then around $56.79-$57.24 and $59.89. On the downside, the main support is the Fibonacci anchor near $48.65.