3.17 Spot Silver (XAG/USD) Midday Analysis

Silver is currently in the retest confirmation phase following a breakdown from highs, with weak rebound momentum.
Price is retesting in the 80.7–81.5 range, which is a typical post-breakdown retest pattern, consistently trading below the medium-term moving average with no effective upside reversal signals, and the major-level bearish structure remains solid.
On the 30-minute chart, price formed a supply zone near 82.00, then continuously broke below key support levels. Currently retesting the 80–80.8 support band, with progressively lower rebound highs and diminishing buying momentum.
Although there is a MACD bottom divergence signal, it only triggered an oversold rebound without forming an upside BOS, representing weak recovery rather than a trend reversal.
Trading Suggestion: Short at 81.2-81.5 level, targets at 80, 79, 78.$XAGUSD