Silver Price Forecast: XAG/USD rises to near $91.00 due to bullish recovery

Silver price (XAG/USD) has recovered its recent losses registered in the previous session and is trading around $90.50 per troy ounce during the early European hours on Wednesday. The technical analysis of the daily chart timeframe shows that the 14-day Relative Strength Index (RSI) is around 56 trades above the midline without approaching overbought territory, which supports continued buying interest with room for further gains before momentum looks stretched.

The near-term bias is cautiously bullish as the Silver price holds above both the nine-day and 50-day Exponential Moving Averages (EMAs), signaling a recovery phase after the sharp mid-period sell-off. The short-term EMA has turned higher and diverges from the flatter 50-day gauge, indicating improving upside momentum rather than a mature uptrend.

As long as the Silver price holds above the clustered moving-average supports, the path of least resistance points higher toward the $100.00 region ahead of the record high of $121.66, reached on January 29, where a horizontal line caps the broader topside and would define a major breakout if challenged.

On the downside, the first key support sits near the rising nine-day EMA at $84.43, followed by the 50-day EMA at $79.94. A break below these averages would weaken the structure and expose the support at the two-month low of $64.08, recorded on February 6.

(The technical analysis of this story was written with the help of an AI tool.)