May 30, 2025 – Silver prices traded flat during Friday’s Asian session, hovering near the $33.00 mark per troy ounce, as market sentiment turned neutral and technical indicators pointed to consolidation. The grey metal is retracing gains from the previous session while remaining range-bound within a rectangular chart pattern, signaling indecision among traders.
The daily chart shows silver confined in a consolidation phase, with prices closely tracking the nine-day Exponential Moving Average (EMA)—a signal that short-term momentum remains impartial. Meanwhile, the 14-day Relative Strength Index (RSI) stands just above the 50 threshold, suggesting a tilt toward bullish potential, though not yet decisive.
Support and Resistance Levels Define Next Moves
Silver’s immediate downside appears anchored at the 50-day EMA of $32.71. A breach below this level could weaken the medium-term momentum, potentially pulling prices toward the lower boundary of the consolidation zone at $31.90. Further losses could expose the six-week low at $31.65, recorded on May 15, adding to the bearish outlook if selling pressure persists.
On the flip side, a move above the nine-day EMA at $33.10 would likely bolster short-term bullish momentum. Should the XAG/USD pair sustain gains above this level, the next target lies at the rectangle’s upper boundary around $33.60, with further resistance at $33.69—the seven-week high reached on April 24. A decisive breakout above this key level could pave the way for a stronger rally, potentially driving prices toward the seven-month high of $34.59, last seen on March 28.
Market Outlook
With no clear catalyst during the Asian trading hours, silver remains directionless in the short term. Traders are likely awaiting a breakout from the established range before committing to directional positions. Until then, technical boundaries will continue to dictate price action, with market focus shifting to broader macroeconomic cues and upcoming U.S. data releases that could influence metal markets in the sessions ahead.
