FX.co ★ sangita_murmu | XAG/USD, SILVER

From my perspective, the 4-hour chart of Silver (XAG/USD) is currently showing a strong bullish structure, with buyers clearly regaining control after the sharp correction seen around August 19. The price has climbed rapidly from the 62.80–63.00 area and is now trading around 67.00, very close to the recent swing high near 67.55. This price action suggests that the market is once again testing the upper boundary of its recent range with considerable momentum What stands out to me most is the sequence of higher highs and higher lows that has developed since the beginning of August. The broader structure remains bullish, and the latest rebound appears stronger than the previous recovery attempts. The Parabolic SAR is also positioned below the candles following the recent reversal, which supports my view that the short-term trend has shifted decisively back in favor of buyers. However, because the price has moved aggressively higher in a relatively short period, I would not be surprised to see some temporary profit-taking before another attempt to break higher. The most important resistance level in my view is the 67.50–67.55 zone. This area represents the latest visible swing high, and a clean H4 candle close above it would, in my opinion, provide a strong confirmation that the bullish trend is extending. If that breakout occurs with sustained momentum, I would then watch the 68.00 psychological level, followed by the 68.70–69.00 region as potential upside objectives. Recent market analysis has also highlighted the importance of the 66.80 area as a breakout zone for Silver, which makes the current price action particularly interesting On the downside, I consider 66.60–66.70 the first important support area. A controlled pullback into this zone would not necessarily change my bullish outlook; instead, I would view it as a possible retest of broken resistance. Below that, 65.65–65.75 becomes another important area, while 64.70–64.80 represents a deeper structural support zone. As long as price continues to respect higher lows above these levels, I believe the bullish structure remains intact. My preferred scenario is therefore a bullish continuation, but I would avoid chasing the price after such a steep move. Personally, I would rather see either a confirmed H4 breakout above 67.55 or a healthy retracement toward 66.60–66.70 followed by a bullish reaction. This would give me a better risk-to-reward setup than entering aggressively at the current highs The bearish scenario would become more convincing if Silver fails repeatedly around 67.50–67.55 and then breaks below 65.65. A move beneath 64.70 would be even more significant because it could signal that the latest bullish impulse was only a temporary recovery.