Usman Salis
Silver has been on a remarkable run lately, showing the kind of strength that gets traders excited. After months of building momentum within a clear upward trend, the precious metal has finally broken through a critical resistance level that many analysts have been watching closely. This breakthrough could be the catalyst that pushes silver significantly higher in the coming weeks.
Silver (XAG) Price Surges Through Resistance
Silver is riding a strong uptrend, staying well within its rising channel pattern. The metal just smashed through the important $40.60–$41.00 resistance area, hitting $40.54 per ounce with a solid +2.14% daily gain. This breakout is exactly what bulls were hoping to see and suggests there's more upside ahead.
Market analyst notes that while silver might pull back to test support levels in the short term, the bigger picture looks bullish. He believes silver could easily hit the $44–$47 range over the next few weeks, especially if buying interest stays strong. The analyst also points out that silver's strength reflects growing demand for safe-haven assets as economic uncertainty continues.
Why Silver (XAG) Looks Poised for More Upside
Several things are working in silver's favor right now:
- Strong technical pattern: Silver has been following its upward channel nicely since mid-year, showing consistent momentum.
- Good volume: The recent price moves have solid trading volume behind them, which suggests real conviction from buyers.
- Big picture factors: Inflation concerns, changing central bank policies, and investors wanting real assets are all pushing precious metals higher.
Even if silver dips temporarily, most analysts agree that breaking above $41 opens the door to $44–$47. This makes silver one of the most interesting commodities to keep an eye on right now.
Usman Salis
