• Silver kicks off the new week on a weaker note, though it shows some resilience below $80.00.
• The broader technical setup favors bearish traders and backs the case for a further depreciation.
• A sustained strength beyond the 100-hour EMA hurdle is needed to negate the negative outlook.

Silver (XAG/USD) attracts heavy selling at the start of a new week and drops to a four-day trough during the Asian session. The white metal currently trades around mid-$80.00s, down 4% for the day, and seems vulnerable to slide further.

Against the backdrop of the recent repeated failures near the 100-hour Exponential Moving Average (EMA), acceptance below the $80.00 psychological mark would be seen as a fresh trigger for the XAG/USD bears and pave the way for deeper losses.

The Moving Average Convergence Divergence (MACD) indicator slips further into negative territory with the line extending below its signal, and the expanding negative histogram signals strengthening downside momentum. The Relative Strength Index (RSI) at 31.92 hovers just above oversold, indicating persistent selling pressure but also proximity to a zone where short-term bounces often emerge.

Meanwhile, immediate support is seen at the recent low around $79.50, where a decisive break would expose the next downside level near $78.50. Below that area, a deeper extension could target $78.00 as the next bearish objective. On the upside, initial resistance stands at $81.50, with a recovery above that level opening the way toward $82.50.

The near-term bias is mildly bearish as the XAG/USD holds well below the 100-period EMA near $84.50, keeping the recent downswing in control. Only a sustained move back above the said barrier would neutralize the current bearish tone and signal a more durable recovery phase.

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

XAG/USD 1-hour chart