3.17 Spot Silver (XAG/USD) Midday Outlook

Silver is currently in the retracement confirmation stage following a breakout at higher levels, with weak rebound momentum.
Price has retraced to the 80.7–81.5 zone, which is a typical post-breakout retracement confirmation pattern, consistently trading below the medium-term moving average with no effective upside reversal signals, indicating a solid large-scale bearish structure.
On the 30-minute chart, after forming a supply zone near 82.00, price has continuously broken key support levels and currently retraced to the 80–80.8 support zone. Rebound highs are progressively declining, with buying momentum continuously weakening.
Although there is a MACD bullish divergence signal, it has only triggered an oversold rebound without forming an upside BOS, representing weak consolidation rather than a trend reversal.
Trading Suggestion: Short at 81.2-81.5 level, targets at 80, 79, 78. $XAGUSD