February 6, 2026 Spot Silver Midday Analysis

The midday strategy centers on oscillating corrections, selling high and buying low.

News-wise, the US dollar index remains relatively strong, exerting downward pressure on silver prices; the number of initial jobless claims in the US exceeded expectations, indicating a marginal weakening of the labor market. The Fed's rate cut expectations still exist, providing support to silver prices. Amid the ongoing tug-of-war between bulls and bears, the oscillation pattern continues.

Technical analysis shows that after a historic plunge, silver has experienced an oversold correction. The short-term strong support is at $64, while $75 is a key resistance level. There is significant selling pressure near the 60-day moving average, with no clear breakout signals at this time.

Midday Outlook: Silver is likely to remain in the $65-$75 range with a slow recovery after overselling. Volatility remains high. Trading strategy is to sell high near the upper boundary and buy low near the lower boundary within the range, with light positions and strict stop-losses to avoid breakout risks. It is recommended to wait for a rebound near the $74-$75 zone, then gradually buy in batches, targeting the $70-$68-$64 range.

This is only personal advice for reference; it does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific actions!!

$London Silver (Spot Silver) hf_XAG$XAG ‌#XAG