08/01/2026
Silver Breakdown (XAGUSD)
Silver's overall trend is still up. It recently hit a weekly high near 82.77 but has since pulled back.
Key Points:
There is an unfilled price gap lower, near 73.01. Price could potentially drop back to fill that gap.
On shorter timeframes, momentum is showing signs of slowing down compared to gold (a bearish divergence).
Trade Plan: I am looking to sell on a brief price bounce back up to the 76.87 area.
The main downside target for this move is the 73.01 gap.
In short: While the trend is up, I see a short-term opportunity to sell silver if it rises back near 76.87, targeting a drop toward 73.01.