Ounce Silver

XAGUSD - Following the disruption of the medium-term uptrend, Silver is currently undergoing a correction. However, the long-term upward trend maintains a positive technical outlook. In pullbacks, the key support stands at 30.652, while 29.659 marks the long-term upward trend support level. From a fundamental perspective, statements from Powell and U.S. data do not support further declines. Once the correction is complete, the upward price movement is anticipated to continue, supported by a potential Fed rate cut process. For the technical outlook to shift positively in the medium term during upward movements, pricing above the 31.644 level can be expected. Both technically and fundamentally, the long-term outlook remains positive.