Silver prices are currently testing a significant technical resistance cluster between the 85 and 86 levels, marking a decisive moment for the metal. This zone is reinforced by the 55-period Exponential Moving Average (EMA) on the 4-hour chart at 85.27 and the 38.2% Fibonacci retracement level at 86.07. Market analysts note that this level is critical in determining if the metal has established a firm bottom at 63.98 or if the broader selloff will resume. A successful breach above the 86 barrier could pave the way for a rally toward the 100 psychological level. Conversely, failure to overcome this resistance may signal a continuation of the downtrend initiated from the 121.82 peak. Traders are closely monitoring these technical indicators to gauge the next major directional move for XAG/USD.
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