Technical analysis: Silver tests a key support level. What comes next?

Silver has struggled to initiate a meaningful upside move over the past four sessions after reaching the $69–70 per ounce area. The price is now testing the 200-day EMA, shown by the red line, and if this level holds, another 1:1 bullish impulse toward roughly $77 per ounce could follow. A break below $68 per ounce, however, could signal a longer period of weakness and open the way toward a test of the $60 area. Gold remains a key market to watch, as silver would theoretically be expected to follow its direction, while the U.S. dollar is another important driver. Tomorrow’s speech by Kevin Warsh at Jackson Hole could bring additional volatility to the precious metals market.

Source: xStation5

Commercials: still heavily positioned on the short side

Commercials continue to hold significantly more short positions than longs. Producers/Merchants are net short around 16.1 thousand contracts, while Swap Dealers are net short roughly 28.7 thousand contracts, bringing the combined net short position to about 44.8 thousand contracts. This shows that participants linked to the physical silver market remain heavily hedged at current prices, although this does not automatically mean they expect prices to fall.

Managed Money: funds remain net long

Managed Money remains net long by around 11.7 thousand contracts. Over the past week, funds reduced long positions by 423 contracts but also closed 960 shorts, so their net position actually improved slightly. Open interest increased by almost 5 thousand contracts, pointing to higher market activity, although there is still no clear sign of aggressive new bullish positioning.

Source: CFTC (CoT report, data as of August 18)

30 October 2026, 6:30 PM

💥Daily Summary: Tech Sector Crash on Wall Street and Historic Attack on Binance

30 October 2026, 3:33 PM

Gold prices drop sharply at the end of October. The collapse of the safe-haven myth or a search for liquidity?

30 October 2026, 11:08 AM

Market Wrap: Binance Hack Shakes Markets. European Equities Under Pressure

30 October 2026, 9:55 AM

Chart of the Day: USDJPY After Fed and BoJ decisions. Is Japan getting closer to another rate Hhike?

Commodities

Prefer XTB on Google

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days