Usman Salis
⬤ Silver has whipsawed traders lately, but the monthly chart tells a different story—the long-term bull structure remains firmly intact. Day-to-day noise hasn't changed the bigger picture, which shows silver still operating within a rising channel built from historical pivot points stretching back decades.
⬤ The structural framework uses closing prices from major peaks including the 1983 high, 2011 top, and the current cycle peak. This analysis reveals silver has room to drop and still stay comfortably inside the broader bull trend. A pullback toward the purple support trendline would be normal price behavior during extended rallies, not a sign the trend is breaking down.
⬤ The critical level to watch sits around $90 to $90.5—a clean monthly close above this zone would confirm the long-term bullish thesis. Until that happens, price action inside the channel remains healthy and constructive. Historical patterns show that volatility within established trend channels is typical during multi-year bull phases.
⬤ Silver's behavior matters for the broader precious metals complex since it often signals shifts in macro positioning and market sentiment. The metal appears to be digesting recent gains rather than reversing course. Whether it eventually breaks above $90 or tests lower channel support, time—not trend failure—remains the key variable for this market.
Usman Salis
