Silver (XAG/USD) experienced a fifth consecutive day of losses on Monday, trading with a negative bias after a modest bounce during the Asian session to the $69.60 area. The precious metal is currently positioned just below the mid-$67.00s, marking a decline of 0.80% for the day and hovering near a six-week low that was reached last Thursday [1].
A key technical development occurred last week when XAG/USD broke down and closed below the 100-day Simple Moving Average (SMA) for the first time since April 2025, which was interpreted as a significant trigger for bearish sentiment among traders. The Moving Average Convergence Divergence (MACD) indicator has extended further into negative territory, with its line below the signal, reinforcing the prevailing downside momentum. The Relative Strength Index (RSI) stands at 32, just above oversold territory, indicating ongoing selling pressure rather than a potential reversal [1].
Immediate support for silver is identified at $67.50, guarding the recent trough, with a lower support area at $65.00 if sellers maintain control. A sustained break below $67.50 could open the path toward the mid-$60s, while only a close above $73.80 would challenge the current bearish structure. On the upside, resistance is seen at the $72.80–$73.80 band, where the 100-day SMA converges with recent breakdown levels, and a recovery above this zone would be needed to ease immediate bearish pressure. The next resistance stands at $80.00, which previously capped a consolidation shelf [1].
No forward-looking statements or analyst opinions are explicitly provided in the article, and there is no mention of market reactions beyond technical analysis [1].
CONCLUSION
Silver is trading near a six-week low, with technical indicators pointing to continued bearish momentum and vulnerability below $67.50. Unless the price recovers above key resistance levels, further downside toward the mid-$60s remains possible. The market takeaway is a cautious outlook, with traders closely watching support and resistance zones for signs of reversal or deeper declines.