XAGUSD (Silver vs USD) on the 1-hour timeframeXAGUSD (Silver vs USD) on the 1-hour timeframe, here’s what can be inferred:
The price has clearly broken below the ascending trendline.
It also broke down through the Ichimoku cloud, confirming a bearish signal.
There’s a sharp rejection candle followed by continuation below previous structure support (around $52.00–$51.80).
My marked a “target point” on your chart — roughly near $47.50, which seems to be aligned with the next major support zone from earlier price action (likely a demand area or Fibonacci retracement level).
🧭 Technical Breakdown:
Current Price: ~$51.81
Immediate Resistance: $52.30–$52.45 (bottom of the cloud)
Support/Target:
Short-term: $50.80
Medium-term: $49.50
Major target (as on your chart): $47.50
🎯 Expected Target:
If bearish momentum continues and the price stays below the $52.00 resistance, your target of $47.50 looks reasonable as a swing target.
