Just saw an interesting move, XAG/USD price still testing the $49 level and staying above. The market saw a surge of over 2% the day before, reaching a 14-year high of $49.55. It is now trading around $49.10 during the European session.



From a technical perspective, the 14-day RSI index is above 70, indicating that silver is in overbought territory. The price structure is moving within a clear uptrend channel and remains above the 9-day EMA at $47.67, which shows that momentum is still strong.

Looking ahead, if the price breaks above $49.55, it could test the psychological level of $50.00 next. A breakout would open the way toward the $51.00 area. Conversely, if it drops below $47.67, the next support level is at $44.60. Silver prices still have an upward trend, but close monitoring of the RSI is necessary, as it may indicate an upcoming correction.
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