FX.co ★ lstanton | XAG/USD, SILVER

On the 30-minute timeframe for the Silver trading instrument, the following technical picture is observed. The price has broken the diagonal support line of the ascending channel, indicating a break in the previous growth structure and a transition to a descending scenario. After the breakout, the instrument has already tested the horizontal support level at 76.800, where a temporary stabilization occurred. The current dynamics suggest the development of an upward corrective movement. Within the correction, a retest of the broken diagonal support is likely, which can now act as resistance. After the completion of the correction and the sellers' reaction from the retest zone, I expect a resumption of the downward movement with a continuation of the descending impulse. If the price consolidates above the broken diagonal line, this could weaken the current descending scenario and lead to a deeper correction or a return to the previous channel.