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Silver pulled back sharply from its all-time high near 121.67 in late January, dropping over 40% before finding support around the 64.00 zone in early February. The daily chart shows a falling wedge pattern forming during this correction, with price testing the lower boundary multiple times before bouncing back toward 78.00. The 50-day Simple Moving Average (SMA) sits at 75.65, providing dynamic support, while the 200 SMA at 49.13 remains well below current price action, confirming the longer-term bullish structure still holds. The Relative Strength Index (RSI) recovered from oversold conditions below 30 and now reads 53.69, suggesting neutral momentum as Silver consolidates between 70.00 and 85.00. The 4-hour timeframe displays a potential bullish reversal setup as price broke above the upper trendline of the descending channel near 78.00. The Moving Average Convergence-Divergence (MACD) crossed above the signal line with a widening positive histogram, signaling strengthening upside momentum. Immediate resistance stands at 86.25 where the 200-period SMA on the 4-hour chart converges with the 38.2% Fibonacci retracement of the recent decline. A clean break above this confluence zone opens the path toward 92.95, the 50% retracement level, with extended targets at 101.64 if bullish momentum accelerates. Key support remains at 75.00, and failure to hold this level would bring 71.30 back into focus. XAG/USD 4-hour chart Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Silver prices can move…

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Filed under: News - @ February 9, 2026 4:29 pm