Silver rose on Wednesday after falling the day before, as buying returned amid ongoing geopolitical and economic risks. XAG\/USD traded near $90.25, up about 3.38%, while a firmer US Dollar limited gains.<\/p>\n
The metal is up nearly 24% over the past five trading days and is near its highest level in almost three weeks. It follows a pullback from the late-January record high of $121.66.<\/p>\n
On the daily chart, price is back above the rising 50-day Simple Moving Average and remains above the 100-day SMA, both in the low-to-mid $80s. This keeps the broader uptrend in place.<\/p>\n
The Relative Strength Index is back above 50, pointing to firmer momentum without being overbought. The MACD is moving towards zero as its histogram contracts, suggesting weakening bearish pressure.<\/p>\n
Average True Range has fallen from recent peaks, indicating reduced volatility. This may lead to steadier price moves rather than sharp swings.<\/p>\n
Support sits near the 38.2% Fibonacci level at $86.08, based on the $121.66 high and $64.08 low. Below that, the 23.6% level is $77.67.<\/p>\n
Resistance is around the 50% Fibonacci level at $92.87. Above it, the next level is the 61.8% retracement at $99.67.<\/p>\n
We are seeing silver gain some traction after the significant pullback from the record highs near $121 in late January. The recent 24% surge in just five days shows that dip-buyers are active, which could establish a new floor for the price. This rebound is a signal for us to reconsider bullish strategies.<\/p>\n
The primary headwind right now is the firm US Dollar, which is being supported by the Federal Reserve’s stance on keeping interest rates higher for longer. Recent economic data, like the January jobs report showing a gain of 295,000 jobs against an expected 180,000, is fueling this dollar strength. This will likely cap any explosive upward moves in silver for the time being.<\/p>\n
We should also remember the strong fundamental demand for silver, particularly from the green energy sector. Looking back at the final quarter of 2025, global solar panel installations jumped by 15% year-over-year. This strong industrial consumption provides a solid underlying support for the price, even if financial markets are choppy.<\/p>\n
With momentum indicators like the RSI turning positive, the $92.87 resistance level is the key trigger for us. A decisive break above this price could be a good signal to initiate long call options or sell bull put spreads, as the path would be clearer for a move toward the $99.67 mark.<\/p>\n
Conversely, our risk is clearly defined around the $86.08 support level. A sustained move below this would suggest the bullish momentum has faded, making it a critical point for stop-losses or for buying protective puts to hedge any long positions.<\/p>\n
This price action is reminiscent of the patterns we saw throughout 2025, when sharp rallies driven by inflation fears were often met with resistance from central bank policy shifts. However, the current decrease in volatility suggests this recovery might be steadier than the sharp swings we traded last year.<\/p>\n
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