12.16 Silver (XAG) Midday Outlook

Silver (XAG) has experienced a dramatic decline after reaching an all-time high, with moving averages forming a bearish arrangement downward, officially ending the medium-term upward trend and entering a correction cycle.

Currently, the silver price is maintaining a weak oscillation around 62.722, and during the rebound process, it has consistently failed to reach the moving average resistance level, with the 1-hour level dominated by bears.

In the 30-minute cycle, the price has only retraced to 63.231 after dropping from the high point before falling again, with the rebound strength being weak, and it has already broken below the previous consolidation platform. During the decline phase, selling pressure has increased, while during the rebound phase, trading volume has shrunk, indicating a weak tendency in smaller timeframes.

Overall, if silver cannot strongly recover the 63.2 level in the short term, the current bearish trend will continue.

Trading suggestion: Short in the range of 62.9-63.2, with targets at 61.9, 61.4, and 60.9.