FX.co ★ Physicist | XAG/USD, SILVER

Based on the SILVER M15 chart, price is currently trading near 63.368 after a sharp decline from the 64.899 high down to a recent low of 62.199, followed by a recovery to current levels. The sequence shows a clear bearish reversal with lower highs (64.899 → 64.629 → 64.359 → 64.089) and lower lows, confirming a bearish market structure. Key resistance is layered above: 63.549 (the purple moving average and immediate ceiling), 63.819, and the stronger ceiling at 64.089–64.359. The current price at 63.368 is just below the 63.549 resistance, indicating selling pressure near that zone. On the support side, 63.009 is the first line of defense, followed by 62.739, and the major swing low at 62.199. The overall bias remains bearish as long as price stays below 63.549, and any rally toward that zone is likely to attract sellers. Given this structure, a sell zone is recommended between 63.500 and 63.800, ideally near 63.550–63.650 (just below the 63.549–63.819 resistance). Place a stop loss above 64.000 (above the 64.089 level). The first target is 63.009 (immediate support), followed by 62.739, and if downside momentum resumes, 62.469 and 62.199. A break below 62.199 would open the door to 61.800. This trade offers a favorable risk‑reward if price rejects the resistance zone. Conversely, a buy zone is identified near 62.100–62.300, just above the key support at 62.199. An ideal long entry would be around 62.250 with a stop loss below 61.900. Targets are 62.739 (first resistance), then 63.009 and 63.368. However, given the dominant downtrend, long trades are high‑risk and should only be considered if a bullish reversal pattern (e.g., double bottom or engulfing candle) forms at 62.199, or if price breaks above 63.549 with strong momentum, which would signal a potential trend reversal. In summary, silver on the M15 chart remains bearish with resistance at 63.549–63.819 and support at 63.009–62.199. The current price near 63.368 is approaching resistance; a rejection from 63.500–63.800 would likely send price back toward 63.009 and then 62.739. A break above 64.000 would invalidate the sell zone and open the door to 64.089–64.359. For the coming sessions, favour selling on rallies to the 63.500–63.800 zone, with tight stops, and avoid chasing longs unless price shows clear strength above 64.000. Always monitor the M15 candle closes for confirmation and use proper stop‑loss management, as silver can be volatile on this timeframe.