Silver Price Forecast: Lower high structure holds, bear’s eye $55.00

• Silver respects lower-high structure as bearish bias remains intact.
• RSI below 50 keeps downside momentum firmly in sellers’ hands.
• Break below $57.22 exposes YTD low and $54.30 support.

Silver price retreats on Friday during the North American session, edging down by 0.54%, weighed by high US Treasury yields and a sudden shift in market sentiment, after US President Trump revealed that the ceasefire is “over.” At the time of writing, the XAG/USD trades at $59.66.

XAG/USD Price Forecast: Technical Outlook

Silver is downward biased, as the market structure continues to respect the series of lower highs and lower lows. The Relative Strength Index (RSI) remains bearish, below its 50-neutral level and aiming towards oversold territory. Given the reasons mentioned above and geopolitical uncertainty, the XAG/USD’s path of least resistance is downwards.

For a bearish resumption, traders must clear the July 8 daily low of $57.22. Below is the year-to-date (YTD) low of 55.63, set on June 22, as the white metal dropped below the 200-day Simple Moving Average (SMA) since mid-June. A breach of those two levels opens the door to a move towards the November 13, 2025, high-turned-support at $54.30.

On the flip side, Silver can shift neutral if buyers reclaim a downslope resistance trendline drawn from around June highs within the $62.25-$62.50 area. Once hurdled, this opens the door to challenge the 50-day and 200-day SMAs, each at $69.94 and $70.31.

XAG/USD Price Chart — Daily

Register a Revolut Business Account