$XAG (Silver) finally crush the $88 resistance and enter a new price discovery phase, or am I watching a double-top formation that signals a return to the $83 support?
I am analyzing the XAG chart... where Silver is showing incredible resilience, currently trading at $86.48 with a +0.46% uptick. After a volatile period, the bulls have successfully defended the mid-$80s, setting up a high-stakes showdown with recent local highs.
Bullish Resilience: I notice that after a sharp dip to $83.11 (24-hour low), the buyers stepped in aggressively, pushing the price back toward the peak of $87.91.
Key Resistance: I believe the $87.91 to $88.00 zone is the ultimate line in the sand; a definitive break here could spark a massive momentum run.
Stability 👉🏻👉🏻 I see the $84.73 level acting as a vital short-term cushion. As long as I see the price holding above this, the upward structure remains firmly intact.
#xag #silver