Silver Price Forecast: Doji standoff puts $49.00 support at risk

Silver (XAG/USD) price consolidates near $52.00, up a minimal 0.19% on Friday as the Greenback rallies sharply, posting strong US data. Back-to-back ‘doji’ candles indicate that neither buyers nor sellers are in control.

XAG/USD Price Forecast: Technical outlook

Silver’s technical view remains downward-biased, with bulls finding key resistance at the $55.00 figure. Momentum remains bearish, as indicated by the Relative Strength Index (RSI), which has turned flat, hinting at further sideways trading.

If XAG/USD drops below Wednesday’s low of $48.96, it could open the door to a drop toward Thursday's low of $48.62. A breach of the latter will expose the October 28, 2025, swing low of $45.56, before testing the psychological $45.00 figure.

On the other hand, if Silver is headed for a bullish reversal, investors must clear the $55.00 figure. The next area of interest is $60.00, where the 50-day Simple Moving Average (SMA) lies. Once that key resistance area is surpassed, up next is the 100-day SMA at $60.73, followed by the $65.00 milestone.

XAG/USD Price Chart – Daily

(This story was corrected on November 6 at 21:00 GMT to say that $48.96 is Wednesday's low, not Thursday's.)