Silver is approaching a significant technical decision point after rebounding from its July lows, with XAG/USD trading near $65.84. The daily chart shows the metal pressing into the upper boundary of a broad descending channel that has capped price since the early-2026 peak, with major resistance concentrated in the $66-$67 zone.
Momentum signals remain constructive but not decisive. The MACD is above its signal line in positive territory, while the weekly stochastic has turned higher from deeply depressed levels. However, the MACD histogram remains modest, and a brief weekly breach of the descending trendline was not sustained, making a confirmed close above the trendline more important than an intraday move.
According to the analysis, a sustained daily or weekly close above the $66-$67 area would strengthen the bullish case toward $70-$72. On the downside, initial support sits around $62-$63, with a broader base in the upper-$40s to mid-$50s if the correction resumes. The metal remains at a technical crossroads pending confirmation.
