Silver (XAG/USD) continued its recovery from Tuesday’s one-month low near $30.20, climbing toward the $31.00 mark during Wednesday’s Asian session. This rebound is attributed to short-covering and market adjustments ahead of key US inflation data.
Despite the uptick, technical indicators suggest caution. Oscillators on the daily chart point to lingering bearish momentum and are not signaling oversold conditions, indicating that gains could remain capped. The 100-day Simple Moving Average, which provided support during the recent dip, reinforces the view that any further rally might face selling pressure.
Traders are likely to remain cautious, viewing the current move higher as a potential short-term opportunity, with risks of a quick reversal if market conditions shift.


