XAGUSD is stalling around the 59.30 level, which coincides with the upper boundary of the bearish channel—a zone that has previously attracted selling pressure. The failure to establish a higher high suggests that the current rebound lacks sustainability, while the short-term structure remains bearish.

The fundamental backdrop also remains unfavorable for silver, as the US dollar and US Treasury yields continue to exert pressure on precious metals. If the price continues to face rejection below 59.30, XAGUSD could retreat to test the 56.51 level at the channel's lower boundary.

Current outlook: Prioritize selling (short positions) if signs of weakness emerge around 59.30, targeting the 56.51 level.