Silver is now at 57.77u, and the position is quite interesting.
After it surged to 59.4 the other day, it was pushed back. Now the price is sitting right around the moving average. MA20 and MA50 are almost overlapping with the current price. In the four-hour chart, out of the last six candlesticks, five closed bearish. The short-term focus is shifting downward—this is a fact.
But what’s interesting is the data on the futures side. The percentage of active buy orders is nearly 57%, and the volume ratio is up by almost 40% compared to before. Whale accounts have a long ratio of close to 87%, and the long-to-short position ratio is also more than double. —At this level, someone is actively taking positions, and it’s large accounts doing the buying.
The issue is that spot-side data shows continuous zero net inflow for large orders, indicating that big capital hasn’t entered the spot market yet. Open interest is also declining slightly. That isn’t necessarily bad— it could be short-term longs exiting, or shorts covering.
In plain terms, right now longs and shorts are fighting at the moving-average zone. Short-term momentum leans bearish, but there is also a stabilizing/supporting force. The key is whether 57.7 can hold.
Chasing longs or shorts here feels uncomfortable. Wait for direction to be confirmed.
#xag $XAG