Potential Double Bottom at Key Structure on XAGUSD

Recently, Silver has made headlines by pushing into new all-time highs, marking another impressive milestone in what has been a strong bullish run. However, as with any extended move, what followed was a period of relief to the downside. This healthy pullback gives the market a chance to reset before potentially continuing higher.

Reaction at a Key Level of Structure

During this pullback, price has reacted around a previous area of structure, a zone that acted as both resistance in the past and now may serve as support. This is exactly where we often look for the market to find balance — and possibly, the beginning of a new leg to the upside.

A Potential Double Bottom Formation

What’s particularly interesting right now is that Silver appears to be halfway through forming a potential double bottom pattern. This classic price pattern is one of the most recognizable reversal setups in trading, often signaling that selling pressure is weakening and buyers are beginning to step back in.

If the second bottom completes it could serve as a strong confirmation that the market is ready to resume its bullish trend — offering an excellent opportunity for traders with a bullish bias to rejoin the move.

The Takeaway

For Silver bulls, this is a key moment to pay attention to. The market has pulled back into structure, reacted positively, and is forming a recognizable reversal pattern, all while still sitting within a broader uptrend.

While patience is required for the pattern to fully confirm, the potential double bottom setup represents a textbook example of how structure and price action work together to reveal high-quality trading opportunities.

Please leave any questions, comments or trading ideas below and I wish you guys a safe & profitable week of trading ahead.

Akil