Silver (XAG/USD) surged on Tuesday, pushing to a fresh all-time high after clearing its previous peak of $60.57. The metal gained more than 4% on the session and is now up an impressive 110% year to date. At the time of writing, XAG/USD is trading near $60.65 after touching $60.75, marking the latest record for the grey metal.
Technical outlook: bullish bias tempered by RSI divergence
The broader technical structure continues to lean bullish, with the $61.00 handle standing as the next major resistance level. However, traders should note a developing negative divergence: while price action has maintained a consistent pattern of higher highs and higher lows, the Relative Strength Index (RSI) has failed to print a new cycle high. This divergence often warns that bullish momentum may be losing steam.
A clean break above $61.00 would open the door toward additional resistance at $61.50 and $62.00. On the downside, a move below $60.00 would expose the December 4 swing low at $56.49, with further support seen at the October 17 high-turned-support at $54.46.
XAG/USD daily chart
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