Saad Ullah
Silver is keeping its uptrend alive, trading above a clearly defined rising trendline that has held through multiple price swings. According to Mary Taylor, the current chart setup points to a deeper retracement before price resumes its upward move - but the bullish bias remains firmly in place as long as key support holds.
The Ascending Trendline Keeping Silver's Structure Intact
The 4-hour chart shows price respecting the ascending trendline through each pullback, with higher lows continuing to form along it. This is the kind of dynamic support that keeps a trend healthy rather than extended, and so far silver has done nothing to break that pattern.
The current setup suggests a deeper retracement could occur before price resumes its upward move, keeping the broader bullish bias intact.
The repeated tests of this trendline without a clean break reinforce confidence in the structure. As long as price stays above it, the market is simply doing what trending markets do - pulling back to gather momentum for the next push higher. Silver held a similar trendline structure during its recent retest before recovering.
Silver Targets $73 Demand Zone Before Potential Bounce
The more immediate question is how deep this retracement goes. The analysis points to $73 as the key level to watch - a zone that sits near a defined demand area and aligns with the broader continuation structure. A move there would not be unusual within an uptrend; controlled pullbacks are part of how trending markets reset before the next expansion.
Rather than signaling weakness, pullbacks often serve to reset price before continuation, especially when the broader structure remains intact.
Near-term buying interest is expected to emerge across a tiered range:
- $75-$76 as a near-term buying area
- $73 as the deeper retracement level and primary demand zone
- Price continues to hold above the ascending trendline throughout
These levels define where the structure is expected to stay supported and where a reaction higher becomes most likely. Technical patterns in silver have previously signaled extensions toward the $80 zone once demand zones absorbed selling pressure.
Silver Upside Remains Open With $73 Support Holding
The chart does not suggest a breakdown is forming. What it shows is a market pulling back within an uptrend, with clear levels where buyers are expected to defend the structure. As long as silver holds above the trendline and the $73 support zone, the setup stays constructive.
Price remains above the ascending trendline, keeping the door open for a continuation move higher - with the pullback acting as part of the trend rather than a reversal.
Broader silver analysis has pointed to breakout targets near $96 contingent on key support levels holding, which adds longer-term context to why this trendline matters. For now, the structure favors patience - a dip toward $73 followed by a recovery would fit the pattern and keep the bullish case intact.
Saad Ullah
