Silver prices tumbled toward a critical confluence technical level on Wednesday, after bulls failed to sustain the grey’s metal quote above the $30.00 a troy ounce level. Therefore, the XAG/USD finished yesterday’s session with losses of 2.84%, yet as Thursday’s Asian session begins, the XAG/USD trades at $29.10, virtually unchanged. XAG/USD Price Forecast: Technical outlookSilver’s uptrend remains in place, but since the XAG/USD rallied from around $26.45 to $30.18, the non-yielding metal has dropped toward the current spot prices, which is also the confluence of the 50 and 100-day moving averages (DMAs) at $29.17-$29.13, respectively.Momentum indicates that neither buyers nor sellers are in charge, as the Relative Strength Index (RSI) is neutral.That said, if XAG/USD drops below $29.00, this could exacerbate a test of the August 12 high turned support at $28.03. Silver could challenge the August 14 swing low of $27.18 on further weakness.Conversely, if XAG/USD climbs above $30.00, this could exacerbate a challenge of June 21 daily high at $30.84, before testing the latest swing high reached on July 11 at $31.75. XAG/USD Price Action – Daily Chart 
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