With gold leading the rally by printing new all-time highs. Meanwhile, silver — often ignored — has also broken its historical level at 49.76 USD and pushed into a new high.
Last week, global liquidity weakened and silver retraced to 48.644, but buyers quickly stepped in and pushed the daily close back above 49.76, showing strong bullish demand at higher prices.
On the daily chart, silver is forming a clean Cup & Handle pattern. The price is currently consolidating within the handle, and a breakout above the key resistance at 54 USD could trigger a powerful continuation move.
Key points to watch:
✔ Precious metals remain in a strong macro bull cycle
✔ Silver successfully retested its previous high zone
✔ Cup & Handle formation is nearly complete
✔ A breakout above 54 could accelerate the next major rally
Silver is known for its volatility and explosive trends once momentum builds. Do you think a breakout above 54 could mark the beginning of silver’s next big run?
Last week, global liquidity weakened and silver retraced to 48.644, but buyers quickly stepped in and pushed the daily close back above 49.76, showing strong bullish demand at higher prices.
On the daily chart, silver is forming a clean Cup & Handle pattern. The price is currently consolidating within the handle, and a breakout above the key resistance at 54 USD could trigger a powerful continuation move.
Key points to watch:
✔ Precious metals remain in a strong macro bull cycle
✔ Silver successfully retested its previous high zone
✔ Cup & Handle formation is nearly complete
✔ A breakout above 54 could accelerate the next major rally
Silver is known for its volatility and explosive trends once momentum builds. Do you think a breakout above 54 could mark the beginning of silver’s next big run?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I make a living by drawing charts.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.