Silver Cup and Handle Pattern: Bullish SetupThis 4-hour chart on silver displays a textbook cup and handle formation.
The cup forms as silver rounds off a previous high and builds a base, signaling accumulation and renewed buying interest. The handle’s consolidation, often a descending channel, typically retraces less than half of the cup’s advance. Breakout confirmation comes when price closes above the handle’s downward resistance line
Statistically, the measured move upon breakout is often the depth of the cup added to the breakout level, indicating strong upside potential if the pattern completes successfully.
A conservative target is $54 - $57.
A silver rally can reflect broad risk-on sentiment. Historically, decisive moves in precious metals have sometimes coincided with bullish developments in the crypto market, triggered by macro events like Federal Reserve rate cuts or rising monetary inflation.
