Eseandre Mordi
⬤ Silver pushed higher on the daily chart after an intraday reversal created a lower-wick inside-range doji, showing that buyers are actively defending current levels. The price action keeps the metal close to recent highs while trading within a steady upward channel. Candles are clustering just beneath key horizontal resistance between $58 and $60, where momentum looks positive and market sentiment remains supportive.
⬤ The chart reveals a consistent rising trend that's been driving Silver's structure for months, backed by a well-defined ascending trendline. Every time price has touched this support area, it's resulted in higher lows, proving buyers keep showing up. The recent doji reflects seller hesitation and renewed buying interest, keeping Silver in a high-base formation near the top of its trend. This pattern shows bulls are successfully absorbing selling pressure and maintaining the upward bias.
⬤ Pullbacks in Silver have been orderly and met with demand along the rising support line. The metal currently trades above $55, a zone that lines up with both the trendline and shorter-term moving averages sitting below price. This consolidation near highs, combined with repeated support defenses, confirms bullish momentum is still in play. With no bearish signals on the chart, the setup favors trend continuation within this controlled structure.
⬤ Silver's position near its high-base pattern matters because it shapes expectations across precious metals markets. Holding strength at these levels influences broader sentiment, especially as the metal maintains upward movement despite intraday swings. The combination of strong dip-buying and stable momentum creates a technical backdrop that points to Silver's next potential moves as it approaches key chart levels.
Eseandre Mordi
