Silver Price Forecast: XAG/USD hangs near multi-week low; seems vulnerable below $67.50
Silver (XAG/USD) falters after a modest Asian session bounce to the $69.60 area and trades with a negative bias for the fifth straight day on Monday. The white metal is currently placed just below mid-$67.00s, down 0.80% for the day, and seems vulnerable near a six-week low, touched last Thursday.
From a technical perspective, last week's breakdown and close below the 100-day Simple Moving Average (SMA) – for the first time since April 2025 – was seen as a key trigger for the XAG/USD bears. Adding to this, the Moving Average Convergence Divergence (MACD) indicator (12, 26, 9) extends deeper into negative territory with the line below its signal, reinforcing dominant downside momentum.
Moreover, the Relative Strength Index (RSI) at 32 stays just above oversold territory and aligns with building selling pressure rather than signaling a firm reversal. Meanwhile, immediate support sits at $67.50, guarding the recent trough, followed by $65.00 as a lower support area if sellers extend control. A sustained break below $67.50 would open the way toward the mid-$60s, while only a close back above $73.80 would start to challenge the prevailing bearish structure.
On the upside, initial resistance emerges at the $72.80–$73.80 band, where the 100-day SMA converges with recent breakdown levels, and a recovery above this zone would be needed to ease immediate bearish pressure. Above that, the next resistance stands at $80.00, capping a prior consolidation shelf.
(The technical analysis of this story was written with the help of an AI tool.)
XAG/USD daily chart
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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