#XAG

Silver (XAG/USD) is trading around $57.20 today after pulling back from the $60.00 resistance zone. The short-term trend remains bearish as the U.S. dollar stays firm and traders await the Federal Reserve's policy decision. Until buyers reclaim higher resistance levels, rallies may continue to attract selling pressure.

Key Resistance
• 58.20 – Immediate resistance
• 59.00–60.00 – Major supply zone
• Above 60.00 could trigger a stronger bullish breakout

Key Support
• 57.00 – First demand zone
• 56.80 – Critical support
• 55.80 – Next major downside target

Market Analysis

Silver remains under short-term selling pressure after failing to hold above $58.00. Current price action suggests sellers still control momentum, while buyers need a strong break above 58.20 with rising volume to confirm a reversal. Until then, the market favors cautious trading with focus on key support levels.

Trading Strategy

Sell Setup

- Entry: 57.15–57.30
- Stop Loss: 58.35
- Take Profit 1: 56.80
- Take Profit 2: 56.20
- Take Profit 3: 55.80

Buy Setup

- Entry: Only after a confirmed breakout above 58.20
- Stop Loss: 57.60
- Take Profit 1: 59.00
- Take Profit 2: 59.60
- Take Profit 3: 60.00

Market Outlook

The short-term bias remains bearish while Silver trades below 58.20. A decisive breakout above that level would improve the bullish outlook, but if 57.00 fails to hold, the correction could extend toward 56.20–55.80. Traders should watch U.S. dollar strength and upcoming Federal Reserve developments, as they are likely to drive the next significant move.

$XAG ‌