Silver (XAGUSD) traded at $64.114 according to TradingView at press time, after briefly rising to $64.50 earlier in the session. The metal lost upward momentum and retreated toward $64, with analysts closely monitoring its position between newly defined support and resistance levels.
Cali XAUUSD signals persistent sell pressure
Technical analyst Cali XAUUSD observed that silver’s broader market trend remains bearish. He identified that despite silver’s attempt to recover from a failed breakout above resistance, the price continues to trade below a crucial zone previously associated with increased selling activity.
On his chart, Cali emphasized a sell setup near the mid-$65 to $66 area, which aligns with a higher resistance level. If sellers maintain control around this range, he projects a potential decline for silver toward the low $50s. However, he noted that confirmation of this scenario is yet to emerge on the price chart.
Silver would need to break its recent support trends and post more lower highs to activate further downside risk. Cali previously highlighted that silver already breached a bearish trigger at $63 after prices fell to the $67.50 mark.
Silver’s rebound is significant, but if price fails to reclaim overhead resistance, the prevailing lower-high structure will persist.
This dynamic keeps attention focused on whether silver can overcome its short-term technical barriers and shift away from its ongoing sell trend.
Dr. Romeet Saha tracks long-term descending channel
Dr. Romeet Saha, who takes a long-term technical approach, analyzed silver’s movement within a wide descending channel that has persisted since February 2026. His analysis shows that silver’s price action consists of multiple swings between the channel’s boundaries over several months.
Saha’s chart maps out previous patterns, where silver rallied off the lower channel edge but retreated after reaching the upper boundary. In the current setup, silver slipped from July lows to early September, and now trades in the lower central portion of the channel.
He identifies further support targets in the high $50s and around the $57 level. The bottom of the channel sits even lower, implying the next key test is whether silver will remain within this established range or follow the historical downtrend.
Mini dictionary: Descending channel, a technical analysis pattern defined by two parallel downward-sloping lines containing price action, often seen as indicating a long-term bearish trend unless broken to the upside.
Silver’s latest movement fits a pattern seen earlier in the year, where price rebounds within the channel but fails to sustain upward momentum.
With support clustered in the upper $50s, silver’s position near the middle of the channel reflects ongoing uncertainty about its next major direction.
TradingView data points to weak short-term momentum
Short-term market data from TradingView shows that XAGUSD started the session near $63.50, climbed above $64, and reached $64.70. However, prices fell sharply at 14:00 before rebounding and settling around the mid-$64 area.
Technical signals point to mounting reversals near the upper and lower Bollinger bands during intraday trading. The Chaikin Money Flow indicator, which tracks the amount and direction of money moving in and out of the asset, registered a negative value of -0.25—well below the zero level.
This negative reading highlights weak buying interest over the monitored timeframe, indicating more funds left the market than entered during recent sessions.
If silver falls below $64, traders are likely to turn their attention back to recent intraday lows. Remaining above $64.50 to $65 would be needed to challenge the next resistance levels highlighted by analysts.
| Level | Support | Resistance |
|---|---|---|
| Short-term | $64.00 / $63.00 | $64.50 / $65.00–$66.00 |
| Long-term (Channel) | High $50s / $57.00 | Upper boundary ($66+) |
