FX.co ★ XAG/USD, SILVER

Silver H4: A Potential Bounce From Key Support Silver is currently showing an interesting technical setup on the H4 timeframe after a strong bullish move from the July lows. Price recently climbed toward the 70.00–71.00 region, where sellers became active and pushed the market back toward the 66.50 area. This correction does not necessarily indicate a full trend reversal; instead, it may be a healthy retracement within the broader bullish structure. The most important area on the current chart is around 66.50–66.70. Price is testing this zone while also interacting with the rising 100-period moving average. The blue moving average has turned upward and remains well above the slower 200-period moving average, which supports the broader positive structure. If buyers defend the 66.50 area and H4 candles begin closing firmly above it, the current decline could provide an opportunity for another upward leg. A successful bounce from this support could initially target 68.30, followed by the 69.50–70.10 region. If momentum returns strongly and buyers manage to break the recent high near 70.80–71.00, the bullish continuation could become more convincing.

However, confirmation is important. A clean H4 close below 66.50 would weaken the immediate bullish setup and could expose the next support around 64.80–65.00. A deeper correction toward 63.00–63.50 cannot be ruled out if selling pressure accelerates. For now, I am watching the reaction around 66.50 very closely. The combination of horizontal support, the rising moving average, and the established higher-high structure makes this zone technically important. Rather than chasing the market after its previous rally, waiting for a clear bullish reaction here could offer a more controlled setup. The key idea is simple: 66.50 is the level to watch. Holding it could open the door toward 68.30 and 70.00 again, while a decisive breakdown would signal that the correction may have further room to develop.