Silver (XAG/USD) Eyes $87–$90 Cycle Highs as SLV Consolidates at Key Technical Levels
Silver spot prices have rebounded above intraday lows, holding support NEAR $78–$79 per ounce. Market participants are assessing whether this recovery can sustain above critical thresholds, while long-term investors weigh the implications for silver's broader outlook.
The iShares Silver Trust (SLV) reflects a neutral technical stance on the TSX Exchange, balancing short-term bullish momentum against longer-term caution. Pivotal levels near $74 are in focus, with short-term moving averages signaling upward pressure while longer-term averages suggest potential resistance.
SLV's recent rebound from its 60-day moving average—maintaining support above $68 despite a negative MACD—hints at underlying strength. Oscillator readings confirm positive short-term momentum, though the medium-term trajectory remains uncertain.
