$XAG / #Silver

The lack of persistence above the 83,056 level in silver indicates that selling pressure still continues in the short term.
In the downward scenario, the 77 support on the 4-hour chart will be critical. If stability below this region occurs,
we can see that sellers are regaining strength and the decline continues.
Especially if it stays below the 72 level, the decline could deepen.
In this case,
we will follow the support bands of 70 – 69 – 65.
Particularly the 69–65 zone,
appears to be important both technically and psychologically because of Fibonacci support levels.
Since investor psychology can shift back to “the price is cheap” in such regions,
the likelihood of seeing rebound reactions increases.
In the positive scenario,
if there are closes above 83,056, the upward movement could continue toward the 96 region.
However, the most important decision zone is the 96 level.
Because the market will try to decide whether
the rise is just a correction or if the main trend will continue.
If daily closes above 96 occur and persistence is established,
a new move toward the peak region could gain strength.
But if selling pressure returns from this region,
the market could revert to a correction phase again.
In deep pullbacks, the 60 level on the daily chart
is an important support for maintaining the main bullish structure.