Silver Hits $89, Faces Potential Pullback

Silver (XAG) reached $89 yesterday after breaking out from a descending triangle on May 7, according to BeInCrypto. However, four-hour indicators suggest a possible pullback toward $79 before further gains. Currently trading near $86.94, silver remains within an ascending parallel channel. The RSI and MACD on the 4H timeframe indicate fading short-term momentum. Macro factors such as industrial demand and supply constraints continue to influence silver's price. Analysts highlight $96 as a key decision level, with potential support at $83. A break above $89 could target $101, while a drop below $83 may lead to $79.