Artem Voloskovets
⬤ Silver is pushing higher right now, and the technical setup looks pretty solid. The price action is showing a classic Elliott Wave pattern that's targeting somewhere between $73.09 and $74.28 for wave (iii) to wrap up. Looking at the chart, you can see a clear upward trend with consistent higher highs and higher lows—exactly what you'd want to see in a healthy bullish move.
⬤ The Elliott Wave structure here is fairly straightforward. Wave (iii) is still developing, and as long as prices stay above that critical support around $60.75, the bullish case stays intact. Sure, we might see some brief pullbacks or sideways action along the way, but the overall momentum remains pointed upward.
⬤ So why does this matter? Well, Elliott Wave patterns are one of the most widely used tools for gauging trend strength and potential price targets. If silver does hit that $73-$74 zone, it would confirm that this bullish phase still has legs and could lift the entire precious metals sector. Having clear targets and invalidation levels also helps traders know exactly where the setup works and where it doesn't—pretty crucial as silver approaches this key phase of its current move.
Artem Voloskovets
