FX.co ★ XAG/USD, SILVER

Silver H4: A Potential Bounce From the 66.30 Support Zone Silver has reached an important technical area on the H4 chart, with price currently around 66.35. After a strong bullish move from the 63.00 region, the market climbed toward 70.00–71.00 before facing selling pressure. The latest sharp pullback has brought price back to a zone that deserves close attention. The 66.30–66.40 area stands out because it previously acted as a resistance region and has now become a potential support zone. Price is also approaching the rising blue moving average, which adds another layer of technical confluence. The longer-term moving average remains considerably lower, around the 62–63 area, keeping the broader structure constructive for now. What interests me most is how Silver behaves around 66.30. If buyers defend this level and an H4 candle forms a clear rejection, bullish momentum could return. A successful bounce could initially target 68.30, followed by the recent consolidation area around 69.00–70.00. A stronger recovery above 70.00 would open the possibility of another attempt toward the recent high near 71.00.

However, I would not treat the support as guaranteed. An H4 close below 66.30, especially if followed by continued selling, would weaken the bullish setup and could expose the market to lower levels around 64.80 and potentially 63.00. For me, the key is confirmation rather than chasing the move. If buyers show strength from the current zone, the risk-to-reward for a controlled long setup may become attractive. Until that confirmation appears, patience is more important than prediction. Overall, Silver remains technically bullish on H4, but this pullback is testing whether buyers are ready to defend the previous breakout area. The reaction around 66.30 could determine the next meaningful move.