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Published: 23 June 2026,08:39
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XAGUSD, H4:
Silver remains under pressure after failing to break above the critical liquidity zone near $67.60. The rejection from this key resistance area has triggered renewed selling activity, sending the metal back toward its recent lows below the $64.00 mark.
The inability to sustain gains above the liquidity zone suggests that sellers continue to dominate the broader market structure. However, despite the recent pullback, there are early signs that bearish momentum may be easing.
A notable development can be seen in the Moving Average Convergence Divergence (MACD), which has formed a higher-low pattern even as silver retests its previous lows. This positive divergence indicates that downside momentum is weakening and may signal the early stages of a potential trend reversal. Such divergences often emerge when selling pressure begins to fade, even though prices have yet to establish a clear recovery.
From a price action perspective, the support zone around $63.60 remains a crucial level to monitor. If silver can successfully defend this area and establish a meaningful rebound, it would reinforce the bullish divergence seen on the MACD and provide stronger evidence that a near-term bottom may be forming.
A sustained recovery from the $63.60 support zone could help validate the bullish bias and potentially pave the way for another attempt at higher resistance levels. Conversely, a decisive break below this support would invalidate the developing recovery scenario and expose the metal to further downside risks.
Resistance Levels: 65.30, 69.70
Support Levels: 61.60, 56.70
Nasdaq, H4
Nasdaq Composite appears to be losing momentum after its recent bullish advance, with the index struggling to break above the key liquidity zone near 30,600.00. The repeated failure to overcome this resistance area has resulted in the formation of a double-top pattern, a technical formation that is often associated with a potential trend reversal.
The emergence of the double-top pattern suggests that buying momentum may be fading as sellers become increasingly active at higher levels. This development raises the risk that the Nasdaq’s recent uptrend could be transitioning into a corrective phase.
Attention now turns to the immediate support level around 30,000.00, which serves as a critical line in the sand for the bulls. As long as the index remains above this support zone, the broader bullish structure can still be maintained. However, a decisive break below 30,000.00 would confirm the double-top pattern and provide stronger evidence that a bearish reversal is underway.
Momentum indicators are also supporting the cautious outlook. The Relative Strength Index (RSI) has been trending lower, indicating that buying pressure is weakening and that momentum is shifting away from the bulls.
Similarly, the Moving Average Convergence Divergence (MACD) has continued to decline, reflecting a deterioration in underlying market momentum. The synchronized weakness in both RSI and MACD reinforces the view that the bullish trend is losing strength and that downside risks are increasing.
Resistance Levels: 30,840.00, 31,720.00
Support Levels:30,000.00, 29,364.00
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