Silver Price Forecast: XAG/USD looks to build on modest gains above mid-$89.00s
NEW YORK (February 26) Silver (XAG/USD) struggles for a firm near-term direction and remains confined in a multi-day-old range during the Asian session on Friday. The white metal currently trades just above mid-$89.00s, up nearly 1.0% for the day, with technical setup favoring bullish traders and backing the case for a further appreciating move.
The XAG/USD holds well above the rising 100-period Exponential Moving Average (EMA) on the 4-hour chart, near $84.40, keeping the short-term uptrend structure intact despite recent consolidation. Momentum has cooled from prior overbought conditions, with the Relative Strength Index easing toward 58, yet staying above the 50 midline and indicating underlying buying pressure.
The Moving Average Convergence Divergence (MACD) indicator (12, 26, 9) remains slightly negative but is contracting toward the zero line, which suggests fading downside momentum after the latest pullback from the $91 mark. Meanwhile, immediate support emerges at $88.20, where the latest reaction low sits above the 100-period EMA, followed by $87.50 and then the dynamic floor around $84.40.
A sustained break below $87.50 would weaken the bullish tone and expose a deeper retracement toward the $84.00–84.40 area. On the upside, initial resistance stands at $90.00, ahead of the recent swing high around $91.10. A clear 4-hour close above $91.10 would reopen the topside and could extend the advance toward the $93.00 region, in line with the prevailing positive bias.
FXStreet
