Saad Ullah
⬤Silver has pulled back into what looks like a bull flag pattern after its recent surge, with prices now trading around $72. The consolidation shows two downward sloping trendlines forming after the metal's steep climb, which typically indicates the market is taking a breather before potentially continuing higher. This kind of structure often appears when traders lock in some profits after a strong run, but the underlying trend stays intact.
⬤The recent weakness appears to be exactly that—a minor profit taking phase rather than anything more serious. As one analyst put it, "Silver may be positioned to advance significantly" once this consolidation wraps up. The chart pattern suggests the pullback is temporary, fitting what usually happens when prices cool off after accelerating quickly. The broader picture remains firmly bullish, with the metal having climbed sharply in recent weeks before entering this pause.
⬤The big question now is whether silver can push toward the $100 mark over the next one to two months. That's the projection being floated once the current consolidation ends. It's a notable target because silver works as both an industrial metal and a monetary asset, so major moves tend to ripple across the commodities market. If the bull flag plays out as expected, it would reinforce that the uptrend is still alive and well.
⬤Traders will be watching closely to see if silver confirms the breakout from this pattern or if the consolidation stretches out longer than anticipated. A clean move higher would boost confidence in the rally, while a failure to break out might signal that momentum is fading. For now, the technical setup suggests the pullback is just a pause in what's been a strong upward run.
Saad Ullah
