Silver Price Analysis: XAG/USD is at a crossroads, bulls need to turn up

• Silver is on the verge of a break one way or the other. 
• Coiled around a 38.2% Fibo resistance, its make of break time for the white metal. 

Silver is at a crossroads midweek and has made a correction into a 38.2% Fibonacci level and meeting the old lows where the structure was recently broken in the bearish impulse. The following will illustrate the market structure on the daily and 4-hour timeframes. 

Silver daily chart

This may serve as resistance but there is an imbalance, the greyed area above that aligns with a prior resistance and around a 50% mean reversion target. The bears are relying on a lower high to form.

Silver H4 chart

The 4-hour chart shows the price resisted which may serve as a lower daily high. On the other hand, the bulls could be about to make their moves and form a higher low with the price imbalance above as a target that aligns with the 50% mean reversion and then the 61.8% Fibonacci retracement level.