Silver Builds Momentum: Break Above 49.50 in Sight1. What Happened Recently
After rebounding from the 45.50 recent low, Silver rallied strongly into the 49.30–49.50 resistance zone, where it faced short-term selling pressure. A healthy correction followed, taking price back to the 47.00 support area.
2. Market Reaction
From that zone, bulls stepped back in. Since Wednesday last week, the market has been climbing in a constructive and steady manner, suggesting that the correction phase might be complete.
3. Technical Outlook
At the time of writing, Silver is attempting to break above the 49.30–49.50 resistance. If successful, this move could trigger a continuation toward the 50.50 zone, which represents the next meaningful resistance on the chart.
The broader structure remains bullish as long as price stays above 48.00, while dips below 49.00 offer good buying opportunities within the trend.
4. Trading Plan
My preferred approach is to buy dips under 49, with a protective invalidation under 48. First profit targets lie near 50.50, with potential extensions if momentum persists.
5. Conclusion
Momentum has shifted firmly back in favor of the bulls. As long as 48 holds, Silver remains in a bullish phase, and buying dips is the rational play. ⚡️
