Silver (XAGUSD) is currently trading near the key $41.50 resistance area after a strong bullish rally. Price is showing signs of consolidation at the upper boundary of the rising channel. A rejection from this resistance could trigger a corrective move back towards the $40.00 – $39.50 support zone, with further downside potential towards the $38.00 support level if momentum weakens.
Resistance zone: $41.50 – $42.00
Key support zones: $40.00 – $39.50 / $38.00
Possible scenario: Short-term pullback from resistance after recent bullish structure
This setup highlights a possible reversal opportunity if sellers step in at resistance, but a breakout above $42.00 would invalidate the bearish outlook and suggest continuation higher.
Resistance zone: $41.50 – $42.00
Key support zones: $40.00 – $39.50 / $38.00
Possible scenario: Short-term pullback from resistance after recent bullish structure
This setup highlights a possible reversal opportunity if sellers step in at resistance, but a breakout above $42.00 would invalidate the bearish outlook and suggest continuation higher.
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