Silver Price Forecast: Bears target $55 as RSI nears oversold

Silver (XAG/USD) price is poised to finish the week with losses after the white metal fell below the $60.00 key support, exacerbating the sell-off that pushed XAG/USD towards a weekly low of $55.38. At the time of writing, Silver exchanges hands near $57.00, down 0.83%.

XAG/USD Price Forecast: Technical Outlook

Silver reverses course, retreating toward $57.00, with the white metal poised to extend its losses below the $55.00 milestone.

Momentum remains bearish as the Relative Strength Index (RSI) extends its downward trajectory and nears oversold territory, implying that bears are in control.

If XAG/USD clears $55.00, the next support is the year-to-date (YTD) low of $54.77. The next stop is the November 13, 2025, high-turned support at $54.39, ahead of diving toward $50.00.

For a bullish reversal, the first supply zone is the October 14 high at $59.37. Once hurdled, the next stop is $60.00, followed by the 100-day Simple Moving Average (SMA) at $63.06, before testing the 50-day SMA at $63.98. A move above the latter opens the path to challenge $65.00.

XAG/USD Price Chart – Daily