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Published: 29 June 2026,08:38
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XAGUSD, H4:
Silver has been consolidating near its recent lows above the 56.70 level after an extended period of weakness. The metal had previously traded within a narrow range-bound pattern, but the latest price action shows a breakout above this consolidation range, suggesting that a short-term technical rebound may be developing.
The breakout from the range-bound structure indicates that buying interest is beginning to emerge following the recent sell-off. This could provide the foundation for a corrective recovery as traders look to capitalize on oversold conditions and the stabilization of prices near key support levels.
However, despite the improving short-term outlook, the broader trend remains bearish. Silver continues to trade within its long-term downtrend structure, and the recent rebound has yet to invalidate the prevailing bearish market conditions.
The key level to monitor is the immediate resistance zone near 61.60. This area represents a significant hurdle for the bulls and will likely determine whether the current recovery can evolve into a more meaningful trend reversal.
A decisive breakout above 61.60 would strengthen the bullish case, suggesting that momentum is shifting in favor of buyers and that the recent rebound has the potential to extend further.
Conversely, if silver fails to overcome this resistance level, the current advance is likely to be viewed as a temporary corrective move within the broader downtrend. In such a scenario, the long-term bearish trajectory would remain intact, and the metal could become vulnerable to renewed selling pressure.
Resistance Levels: 61.60, 65.30
Support Levels: 56.70, 52.80
SPCX, H4
SpaceX shares have experienced significant volatility over the past several sessions, with sharp price swings reflecting heightened uncertainty among market participants. However, the recent price action suggests that the selling pressure may be easing, as the stock has stabilized near its recent lows and successfully found support above the 147.50 level.
The ability to defend this support zone is an encouraging sign for bulls, indicating that buyers are beginning to emerge at lower price levels. More importantly, the share price has broken above its short-term downtrend resistance line, a development that often serves as an early indication that the prevailing bearish trend may be losing momentum.
Momentum indicators are also supporting the improving outlook. The Moving Average Convergence Divergence (MACD) has formed a bullish crossover, or “golden cross,” below the zero line. While the indicator remains in negative territory, the crossover suggests that bearish momentum is fading and that a potential trend reversal could be developing.
Despite these constructive signals, further confirmation is required before a sustained bullish outlook can be established. The key level to watch is the immediate resistance zone near 160.85. This area represents a significant technical barrier and is likely to determine whether the recent recovery can evolve into a broader upward trend.
A decisive break above 160.85 would provide strong confirmation of a bullish trend reversal, signaling that buyers have regained control of the market. Such a move could attract additional buying interest and pave the way for a stronger recovery in the sessions ahead.
Conversely, failure to overcome this resistance level could result in renewed consolidation or a retest of lower support zones, particularly if broader market sentiment deteriorates.
Resistance Levels: 160.85, 175.95
Support Levels:147.70, 135.35
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