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Published: 22 June 2026,07:42
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XAGUSD, H4:
Silver is showing signs of stabilizing after an extended period of selling pressure and has managed to reclaim the $65.00 level. This development suggests that the recent bearish momentum may be fading, with buyers gradually returning to the market.
From a price action perspective, silver appears to be forming a double-bottom pattern around its recent lows, a technical formation that is often associated with a potential trend reversal. The pattern indicates that sellers have struggled to push prices lower despite multiple attempts, signaling that downside momentum may be losing strength.
The $65.00 level now serves as a crucial support zone. Should silver successfully establish support and sustain trading above this level, it would strengthen the case for a bullish trend reversal and increase the likelihood of further recovery in the near term.
Momentum indicators are also beginning to support the constructive outlook. The Relative Strength Index (RSI) has rebounded from oversold territory, suggesting that selling pressure has eased and that bullish momentum is gradually improving.
Meanwhile, the Moving Average Convergence Divergence (MACD) is displaying a higher-low momentum profile, indicating that bearish momentum is weakening despite the broader decline seen previously. This positive divergence often serves as an early signal that a market may be preparing for a trend reversal.
Resistance Levels: 69.70, 73.70
Support Levels: 61.60, 56.70
SP500, H4
S&P 500 is showing signs that its previous bullish momentum may be fading, as the index has begun to form a lower-high price pattern. This development suggests that buyers are becoming less aggressive at higher levels, raising the possibility of a near-term shift in market sentiment.
The index is currently testing a critical short-term pivot level near 7,465.00. This support zone is likely to serve as a key battleground between buyers and sellers and could determine the next directional move for the market.
A decisive break below the 7,465.00 level would reinforce the emerging bearish structure and provide further confirmation that downside momentum is building. Such a move would validate the lower-high pattern and increase the likelihood of a deeper correction in the sessions ahead.
On the other hand, the bearish outlook is not yet fully confirmed. If the S&P 500 can regain momentum and break above its short-term downtrend resistance line, it would constitute a structural breakout and invalidate the developing bearish setup. Such a move would signal that buyers have regained control and could pave the way for the index to resume its broader uptrend.
As a result, the market is approaching an important inflection point. The interaction between the 7,465.00 support level and the short-term downtrend resistance line will likely provide critical clues regarding the index’s next major move.
Resistance Levels: 7530.00, 7646.00
Support Levels:7400.40, 7296.75
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