Silver prices, represented by XAG/USD, have experienced a pullback after reaching recent high levels. Trading around $36.00 per troy ounce, the precious metal is currently testing critical support levels during early European hours. Technical analysis of the daily chart indicates that XAG/USD remains within an ascending channel pattern. This pattern suggests that the prevailing sentiment among traders remains bullish, despite recent retracements.

Investors keen on silver should keep an eye on this support level. A successful bounce may signal renewed buying interest, while a break below could shift sentiment. This dynamic in XAG/USD is essential for anyone closely monitoring the precious metals market.