XAGUSD has entered a Bear Cycle similar to 2020.

Silver (XAGUSD) has corrected sharply following its historic January 29 2026 High and the first selling wave almost touched its 1D MA100 (green trend-line). The rise since that is once more struggling to maintain the momentum and the whole pattern resembles the 2020 fractal, which started a long-term Bear Cycle.

As a result, we expect the market to sustain another decline soon, this time below the 1D MA100 at 66.000, practically confirming a new multi-year Bear Cycle.
$XAG
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