XAGUSD (Silver) – Trendline Break Signals Deeper Correction

On the **daily chart**, XAGUSD has broken below its long-standing **ascending trendline**, indicating a potential shift from bullish momentum to a corrective phase.

### **Key Technical Highlights:**

1. **Trendline Break:** Price failed to hold above the rising trendline near **\$37.00**, which previously acted as dynamic support.
2. **Resistance Zone:** The broken trendline and the \$37.00 area now act as immediate resistance. Any retest could attract sellers.
3. **Support Target:** The next key support zone lies at **\$34.60-\$34.00**, which also aligns with a prior demand area.
4. **Lower High Structure:** The rejection from the recent high at **\$39.51** adds to the bearish bias.

### **Outlook:**

* As long as the price stays below **\$37.00**, momentum favors further downside towards **\$34.60-\$34.00**.
* If bulls reclaim **\$37.00** and close above it decisively, a recovery towards **\$38.50-\$39.00** could be seen, but that’s less likely at this stage.

### **Trading Plan:**

* **Bearish Scenario:** Look for short opportunities on retests of **\$37.00**, targeting **\$34.60-\$34.00**.
* **Bullish Scenario:** Only valid if price reclaims the broken trendline and closes back above **\$37.00**, invalidating the breakdown.

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