Silver (XAGUSD) | Trendline Support Favors a Bullish Recovery
Silver on the 15-minute timeframe is approaching an important ascending trendline after completing a corrective move from the recent swing high. Price is also recovering from a previous pullback, suggesting buyers may become active if the trendline continues to hold.
The highlighted resistance around 58.90–59.10 remains the first obstacle. A successful move above this area could increase the probability of a continuation toward higher resistance levels.
Key Levels
Support: 57.20 – 57.40
Trendline Support: Around current structure
Resistance 1: 58.90 – 59.10
Resistance 2: 59.40
Resistance 3: 59.80 – 60.00
Trading Plan
Bias: Bullish while above trendline support
Confirmation: Strong bullish candle closing above resistance
Target 1: 58.90
Target 2: 59.40
Target 3: 59.90
Invalidation: Sustained move below trendline support may weaken the bullish structure.
Conclusion
This analysis is based on current price structure and key technical levels. Always wait for confirmation before making trading decisions.