Silver Price Forecast: XAG/USD regains $50 amid Oil sell-off, with bearish trend intact - www.tmgm.com

AI desk brief

Silver (XAG/USD) rebounded about 3.8% to around $51 after a more than 5% drop in oil prices, with the move linked to improving US-Iran diplomatic signals that have eased inflation fears. Lower oil is helping push US Treasury yields and the USD down, providing near-term support to silver after Friday’s new yearly low at $48.47.

Despite the bounce, the technical backdrop remains negative: price is still below the 21-day SMA at $56, the 100-day at $61 and the 200-day at $70. RSI is near 31 after briefly entering oversold territory, while ADX near 42 signals the downtrend remains strong; initial resistance is $52 then $55, with support near Friday’s low around $48.87.