Silver – Correction Over, Bulls Back in Control?

[m_c_jacob]

As I’ve often highlighted in my previous Silver outlooks, XAGUSD usually offers cleaner technical setups than Gold, with less “noise” and fewer manipulation spikes. This time is no exception.

After touching the 43.00 zone, Silver entered a corrective phase, sliding down to 41.40 – a key confluence support. Price tested this level no less than four times, and each time buyers stepped in, eventually pushing the market higher.

Much like in Gold, this drop from the highs should not be mistaken for a trend reversal. Instead, it’s a healthy correction inside a strong uptrend. Based on the price action, we can now argue that the correction is likely complete.

Trading plan:

My strategy is to buy dips, ideally around the 41.80 zone.

First target remains the 43.00 resistance area.

Invalidation (negation) comes only with a daily close below 41.50.

In short, Silver has shown resilience at support, and unless 41.50 breaks, I stay with the bulls.