Silver (XAGUSD) Price Hits New Record $69.46 Amid Resistance Zone Test
Published: December 22, 2025, 21:52 GMT
By Bruce Powers, FXEmpire
Silver prices surged to a fresh record high of $69.46 on Monday, marking a continuation of a strong uptrend fueled by persistent demand. The precious metal displayed robust momentum with higher highs and higher lows, barely retracing into the previous Friday’s trading range and maintaining proximity to the day’s session highs.
Monday’s Record Extension
Silver buyers commanded the market throughout Monday’s session, pushing prices to a new peak and reinforcing a bullish trend. The day’s low of $67.33 only slightly dipped into Friday’s range, highlighting solid buying interest near key support levels. At the time of reporting, silver was holding near its daily highs and appeared poised to close the session on a firm note.
Immediate Resistance Ahead
Despite Monday’s strong performance, silver encountered a significant resistance zone between $68.37 and $68.94. This range corresponds to a 223.6% Fibonacci projection of an ascending ABCD pattern and a 261.8% extension from a bearish correction that started in October. Should silver decisively break above Monday’s high of $69.46, the next potential target is around $71.79. Until then, traders should watch closely for resistance pressures within the current zone.
Multi-Week Bullish Strength
Monday started the fifth consecutive week of higher weekly highs and lows for silver, demonstrating sustained bullish momentum. Notably, silver broke above the upper boundary of a trend channel two weeks prior, a clear technical confirmation of accelerating demand. While this strong upward slope is positive, it also raises the possibility of an overextended market condition that could lead to sideways movement or a corrective pullback to support levels.
Layered Dynamic Support Levels
Several key support points are in focus if silver experiences weakness:
- The 10-day moving average, currently at $64.36 and trending upward, serves as the first level of dynamic support.
- Friday’s recent higher swing low of $64.50 is another critical support area to monitor.
- Further below, the 20-day moving average, now at $60.34, also rises steadily.
- Last week’s low at $61.75 holds particular importance as a weekly support level; a break below this could signal a bearish turn but may also attract buying interest.
Outlook
Silver’s steady advance to new record highs and a fifth straight positive week underscores strong underlying demand. However, the steep upward trajectory and challenge near the $68.37 to $68.94 resistance zone suggest caution due to overextension risks. Traders should watch the 10-day moving average and the recent weekly low closely for signs of support. A successful break above $69.46 may set sights on the $71.79 target, while any significant decline beneath key support levels could trigger a sharper correction.
For those interested in broader economic updates and forecasts, visit FXEmpire’s comprehensive economic calendar.
About the Author:
Bruce Powers is a seasoned financial expert with over 20 years in the markets. Holding an MBA and the CMT® charter, Bruce has served in key roles including head of trading strategy at hedge funds. He provides actionable insights combining technical and fundamental analysis to guide retail investors.
This article is intended for informational and educational purposes only and does not constitute investment advice. Readers should conduct their own research and consult financial advisors before engaging in trading activities.
Related Articles:
- Natural Gas 2026 Forecast: Multi-Year Bull Intact Despite Near-Term Selling Pressure
- Gold (XAUUSD) & Silver Price Forecast: Institutional Demand Keeps Trend Constructive
- Natural Gas and Oil Forecast: Supply Risks Clash with 2025 Oversupply Outlook
FXEmpire | www.fxempire.com