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$XAG / #Silver closed above the 83,056 level. During pullbacks, the 77 support on the 4-hour chart will be critical. If this region is maintained, the upward trend could continue.
The rise may proceed toward the 96 region. However, the key decision zone is the 96 level.
Because the market will try to determine whether the rise is just a correction or if the main trend will continue.
If a daily close above 96 becomes persistent, the possibility of a new move toward the peak region could strengthen. However, if selling pressure re-emerges from this zone, the market could revert to a correction phase.
If persistence below the 77 level occurs, it indicates that sellers are regaining strength and the decline could continue.
In this case, we will monitor the support bands at 70 – 69 – 65. Especially the 69–65 region appears to be important both technically and psychologically because it is a Fibonacci support zone. Buyers may strengthen in this region.
In deep pullbacks, the 60 level on the daily chart is an important support for maintaining the main upward structure.