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$XAG / #Silver 4-hour chart now shows us following the 83,052 bottom. As long as it maintains this level, the upward movement can continue.
However, while the rise continues, there is also a divergence in the RSI on the 4-hour timeframe. That is, it’s rising but the momentum of the increase is weakening.
While the divergence in RSI persists, the upward trend may continue, but there is a possibility of a correction in these regions.
The rise could continue toward the 96 zone. At the critical decision point of 96, it will determine whether the increase is just a reaction or if the main trend will continue.
If daily closes stay above 96, a move toward the peak region could gain strength.
If selling pressure re-emerges from this zone, the market could revert to a correction phase.
If it stays below the 83 level, the decline may continue. In this case, we will monitor the support bands at 70 – 69 – 65. The 69–65 zone, being a Fibonacci support area, appears to be significant both technically and psychologically. 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.