Silver Price Forecast: XAG/USD bulls look to build on momentum beyond $79.00
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Silver attracts strong follow-through traction for the second straight day on Tuesday.
The technical setup favors the XAG/USD bulls and backs the case for additional gains.
Any meaningful corrective slide could find support near $78.00 resistance breakpoint.
Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday. The momentum lifts the white metal to a one-week high heading into the European session, with bulls looking to build on the strength further beyond the $79.00 round figure.
The overnight move back above the 100-hour Simple Moving Average (SMA), and Tuesday's intraday breakout through the $78.00 horizontal hurdle could be seen as a key trigger for the XAG/USD bulls. The Moving Average Convergence Divergence (MACD) line stands above the Signal line and in positive territory, with the histogram widening, reinforcing strengthening bullish momentum. The RSI (14) at 71.20 is overbought, which could cap immediate gains as intraday conditions stretch.
The rising SMA keeps the near-term bias tilted higher, and pullbacks would remain contained while price trades above it. Ongoing positive MACD momentum and an expanding histogram would support an extension of the uptrend. RSI above 70 warns of stretched momentum; a dip in price toward the day open at $76.33 would help ease overbought pressure and preserve a healthier bullish profile. Moreover, the 100-hour SMA at $74.45 could further offer dynamic support.
(The technical analysis of this story was written with the help of an AI tool)
XAG/USD 1-hour chart
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* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
