Silver (XAG\/USD) moved sideways in a tight range during the Asian session on Friday, after a three-day recovery from below $70.00. It traded below $75.50 and was almost unchanged on the day, while still set to finish up for a third consecutive week.<\/p>\n
On the 4-hour chart, price remains below the 200-period EMA, which keeps the near-term tone capped. Momentum signals are mildly supportive, with the 14-period RSI near 57 and the MACD slightly positive.<\/p>\n
The 200-period EMA on the H4 sits at $76.66 and is the first resistance level to watch. Further resistance is seen at the 50.0% Fibonacci level at $78.71, then the 61.8% level at $82.86, the 78.6% level at $88.76, and the cycle high at $96.28.<\/p>\n
Support starts at the 38.2% Fibonacci level at $74.57. Lower support levels are the 23.6% retracement at $69.44 and a base near $61.15.<\/p>\n
Looking back at the analysis from 2025, we saw silver struggling to overcome key technical hurdles like the 200-period moving average. The market was consolidating below the $75.50 mark, showing caution despite some underlying positive momentum. That period of sideways movement was critical in building a base for the price action we see today.<\/p>\n
The situation has changed significantly as we move through April 2026. Industrial demand, particularly from the solar and electric vehicle sectors, has surged, with a first-quarter industry report showing silver consumption up 7% year-over-year. This fundamental strength has pushed silver prices well past those old resistance points, with spot prices now hovering near $84.00.<\/p>\n
For derivative traders, this suggests a strategy of buying call options to capitalize on further upward momentum. We are seeing heavy volume in contracts with strike prices of $88.00 and $90.00 for May and June 2026 expirations. This indicates a market expectation that silver will test the major psychological resistance level of $90.00 in the coming weeks.<\/p>\n
However, given the rapid price increase, using spreads can help manage costs and risk. A bull call spread, such as buying an $85.00 call and selling an $89.00 call, offers a defined risk-reward profile for a continued, steady climb. This approach is prudent, especially as recent inflation figures for March 2026 came in slightly cooler than expected, which could create some short-term headwinds.<\/p>\n
The technical levels we monitored back in 2025 now serve as important support zones. The old resistance at the $78.71 Fibonacci level should now act as a solid floor in case of any pullback. Any dip towards the $80.00 to $82.00 range could present an opportunity to add to bullish positions.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Silver traded sideways below $75.50 Friday, below 200-EMA; bullish momentum mild. Resistance $76.66-$96.28, support $74.57-$61.15.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-43893","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t