#我在Gate广场过新年 International Silver (XAG) has recently exhibited a "V-shaped reversal" pattern and is currently oscillating at high levels. Supported by expectations of Federal Reserve rate cuts and industrial demand, the medium to long-term trend remains bullish, but short-term volatility is intense, and traders should be cautious of technical pullback risks.

📊 Market Overview

As of February 11, 2026, spot silver prices are fluctuating around $85.5 per ounce, with intraday gains exceeding 6%. This rebound is mainly driven by a weakening dollar and short covering, recovering strongly from the sharp decline in early February.

📈 Technical Analysis: Key Level Battles

Currently, silver prices are in a critical zone of bullish and bearish contest, with technical indicators showing a weakening of short-term momentum:

Resistance Level: $85.75 (38.2% Fibonacci retracement) is the most important resistance line. A successful breakout could target $92.5 next.

Support Level: The $80-81 range is a recent key defense line. If broken, prices may fall back to around $77.5 for support.

Indicator Signals: MACD shows diminishing upward momentum, RSI is in neutral territory, indicating a lack of clear market direction and potential consolidation in the short term.

🔍 Core Drivers

Macro Policy: Expectations of Federal Reserve rate cuts are the main driving force. A weaker dollar reduces the opportunity cost of holding silver, while concerns over the Fed’s independence support safe-haven demand.

Supply and Demand Fundamentals: The World Silver Survey predicts a sixth consecutive year of supply shortages in the global silver market by 2026. Strong industrial demand in sectors like photovoltaics and electronics, combined with tight physical inventories, provides solid support at the price bottom.

Market Sentiment: Silver ETF holdings have recently rebounded, indicating capital inflows. However, market volatility (ATR) remains high, suggesting speculative sentiment is still strong and prone to sharp fluctuations.

🧭 Market Outlook and Strategies

Short-term (1-2 weeks): Expect wide fluctuations within the $80-88 range. Due to the Chinese New Year holiday, domestic trading may stabilize, so it’s advisable to monitor U.S. non-farm payroll data for market direction.

Medium to Long-term (2026): Generally optimistic among institutions. Based on supply-demand gaps and growing industrial demand, prices could surge to the $122-130 range by year-end, or even higher.

Trading Suggestions: Given the current high volatility, avoid blindly chasing highs. Consider a phased approach, focusing on support in the $80-83 range in the short term, and waiting for a breakout above $86 for trend confirmation in the medium term.