$XAG
(SI.F)
Let’s start this section by revisiting Friday’s quote:
“(…) the bullish scenario from April 10 - based on the orange consolidation - remains fully in play and opens the path for further upside:
“(…) the setup is worth watching. Why? Because if bulls manage to push through that zone (…) , the path toward ~8300 could be open - with the move aligning with the height of the previous consolidation.(...)”
Just like gold, silver followed through on the bullish scenario outlined earlier, reaching a new local high at 8324 (again - well played if you stayed with the move!).
Friday’s session also brought a meaningful technical development, as two prior bearish gaps were neutralized. Given the relative weakness in gold, that was a strong signal on its own.
Today’s takeaway
Dollar:
- Bullish scenario: as long as buyers defend the green support zone, another stabilization attempt remains possible.
- Bearish scenario: failure to hold recent levels and continued weakness below consolidation keeps pressure on the downside and opens the door for another retest of support.
Key takeaway: this is not a reversal yet - it’s a fragile bounce that already lost momentum.