Silver Recovers from Weekly Drop but Faces Resistance at $59

Silver prices rebounded from an intraday low of $58.60, climbing 0.70% to $59.16 amid fluctuating trading sessions. The metal tested resistance near $59.55 before settling into a sideways pattern between $59.40 and $59.60. Market participants are watching for a breakout above this zone to challenge the psychological $60 level.

Technical indicators remain mixed. While the 30-minute chart shows stabilization after a sharp decline from above $65 earlier in the week, momentum appears to be fading. The $58.55-$58.65 area now forms a critical support zone—a sustained break below could open the path toward $56.50.

The recovery has temporarily eased downside pressure, but chart patterns don't yet confirm a full trend reversal. Silver continues to face multiple resistance levels across timeframes, suggesting the bounce may need stronger fundamentals or macro catalysts to sustain upward momentum.