Silver Price Forecast: XAG/USD remains under pressure near $50.00 weekly low as bearish bias holds

• A fresh one-week low follows on Friday as Silver fails to build on a modest intraday rise.
• Further losses remain favoured by the technical picture, which gives bearish traders the advantage.
• Selling is likely to meet any recovery towards the trading range’s broken support level.

An intraday rise towards $50.80 gives way to renewed selling in Silver (XAG/USD), taking the metal to a fresh one-week low in early European trading on Friday. The decline has yet to gather momentum, however, with the price now hovering around the psychological $50.00 level, almost flat on the day.

Repeated recent failures to overcome the 100-period Exponential Moving Average (EMA) on the 4-hour chart leave XAG/USD with a bearish near-term technical bias. That negative outlook was confirmed by the previous day’s break beneath $51.00, the lower edge of a week-long trading range, alongside negative momentum signals on the same chart.

At 37.64, the Relative Strength Index (RSI) remains in bearish territory but has not yet reached oversold levels, suggesting that downward pressure persists. The Moving Average Convergence Divergence (MACD) indicator also remains below zero, with its latest reading of -0.21. This adds to the evidence of limited recovery strength, favouring further consolidation or losses over a decisive rebound.

The former trading range support around the round $51.00 level now provides initial resistance and is likely to be the first significant area of selling pressure on any recovery. Clearing it should enable XAG/USD to revisit the 100-period EMA around $52.86. Only sustained gains beyond that average would ease the prevailing bearish tone and pave the way for a more lasting recovery.

Bearish traders may target support around $49.00, while watching for the RSI to enter oversold territory, which could eventually temper the decline. Beyond that lies last week’s year-to-date low in the $48.60-$48.55 region. A break below this area would pave the way for the downtrend to extend from the late August swing highs above $71.00.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

XAG/USD on the 4-hour chart