Spot Silver Morning Analysis for February 4, 2026

This morning, spot silver is moving in a volatile upward trend, with London Silver currently around 87.1, reflecting a correction after a sharp decline earlier.

The news is quite mixed: strong demand from the photovoltaic sector and bottom-fishing funds entering the market have led to a single-day increase of over 800 tons in the world's largest silver ETF, supporting silver prices. However, hawkish expectations from the Federal Reserve remain, the US dollar is still strong, and market sentiment is digesting previous extreme volatility.

From a technical perspective, silver is supported at around $81 and is rebounding. The RSI has not entered overbought territory and still has room to rise, but there is resistance in the $85-88 range. The MACD indicates that bullish momentum is slowing down, and there is significant selling pressure at higher levels.

In summary, the current trend is a sideways upward movement, but the risk of a pullback has not disappeared, especially after the previous extreme fluctuations. Do not chase highs; consider light positions near the $83-85 support zone to try long positions, with targets of $86-89. Take profits when the market looks good, and keep your positions controlled—avoid greed.

This is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's strategic layout for specifics!!$XAG3L ‌#XAG