$XAG / Silver
Silver (#XAG ) received reaction buying from the 74,353 – 71,390 Fibonacci support zone.
If the upward move is to continue, price must form a higher high within the last bearish wave. That higher high would be confirmed with a close above 86,381.
The next major peak level stands at 92,205.
If the rally extends toward the 99 – 101 Fibonacci retracement zone, this area will act as resistance. Failure to break this region could trigger another decline.
However, if price breaks above the 99 – 101 resistance zone, the next target becomes 115. Sustained price action above 115 could open the path toward the 131 resistance.
On the upside, key resistance levels are:
131 – 152 – 187
From a broader perspective, as long as the daily chart protects the 70,198 low, the overall uptrend remains intact. Pullbacks should be viewed as corrections within the larger bullish trend rather than a full trend reversal.