Usman Salis
⬤ Silver appears to be entering a parabolic phase after a solid technical breakout. The XAG chart shows the metal pushing decisively higher following consolidation above rising support levels, with prices currently hovering around the low $60s. The pattern reveals a sharp upward trajectory taking shape after an extended consolidation period, pointing to strengthening momentum.
⬤ Current analysis suggests silver has roughly 25 percent more room to run in this phase, targeting the $75–$80 zone within the next two to three weeks. The chart displays a steady uptrend that's recently accelerated after breaking through previous resistance, shifting from measured gains into a steeper climb. Expectations for this cycle don't extend to the $96 level, indicating a more conservative upside target for the current advance.
⬤ The ripple effects could be substantial across the mining sector. A move toward $75–$80 in silver could drive gains of approximately 30–35 percent for senior silver miners and 50–60 percent for junior miners, showcasing the amplified response mining stocks typically demonstrate during strong precious metals rallies. Individual mining equities could potentially deliver even more impressive returns during this phase.
⬤ This parabolic setup carries weight for the broader commodities landscape. Sharp advances in precious metals often recalibrate short-term trends across the sector and mining equities. A rapid rally followed by an expected multi-month consolidation period could reshape sentiment, positioning, and volatility throughout precious metals markets as this momentum phase plays out.
Usman Salis
