Silver (XAG/USD) trades in a narrow range around the $78.00 level during Thursday’s Asian session, fluctuating between modest gains and minor losses. Despite slipping around 0.4% on the day, the white metal continues to hold above the previous session’s low and a month-to-date ascending trend-line support near the $77.00 area, helping to contain downside pressure.
Technical structure favors dip-buying
The broader technical setup remains constructive as long as Silver stays above key support levels. Immediate downside protection is reinforced by the rising 100-hour Simple Moving Average, currently positioned near $75.65, which serves as an important pivot for short-term traders.
While XAG/USD holds above this support zone, the near-term bias remains tilted toward the upside, supporting the idea that pullbacks may continue to attract dip-buying interest rather than aggressive selling.
Momentum indicators signal stabilization
Momentum indicators suggest that bearish pressure is easing following the recent pullback. The Moving Average Convergence Divergence is gradually recovering toward the zero line from negative territory, indicating stabilizing momentum. Meanwhile, the Relative Strength Index is hovering around 47, reflecting neutral conditions and a lack of strong directional conviction.
A sustained hold above the trend-line and moving average confluence would further validate the mildly bullish outlook and keep the recovery scenario intact.
Downside risks remain capped for now
That said, a decisive break below the $77.00 trend-line support could trigger technical selling and expose Silver to a deeper corrective move. In such a scenario, prices could slide toward the $75.00 psychological level, followed by the next notable support area in the mid-$74.00s, which is likely to act as a near-term base for the metal.
For now, as long as key supports remain intact, Silver appears to be consolidating rather than entering a broader bearish phase.
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