Silver Price Forecasts: XAG/USD flatlines around $84.00 as the US Dollar steadies

💡 DMK Insight

Silver’s current price near $83.70 is a critical juncture for traders: With the recent weekly high at $86.30, there’s potential for a breakout, especially given the intact bullish trend. Traders should keep an eye on the momentum indicators; if silver can maintain its upward trajectory, it could attract more buying interest. However, a failure to break above the $86.30 level might trigger profit-taking or a reversal, especially if broader market sentiment shifts. Look at correlated assets like gold, which often moves in tandem with silver; any volatility in gold could spill over into silver’s price action. The real story here is the proximity to that weekly high—watch for volume spikes as it approaches. If we see strong buying pressure, it could signal a solid entry point for swing traders looking to capitalize on a potential breakout.