Usman Salis
Silver has quietly built a powerful uptrend over the past two weeks, respecting its short-term trendlines and delivering steady gains. . This move places silver in a favorable technical setup for another leg higher.
Chart Analysis: Silver Respects the Trend
A recent observation from Spidernet-Trader highlighted that the metal has now pushed above the rising 9-hour trigger SMA and successfully crossed the 50-hour SMA—a key technical signal often associated with stronger upward momentum
The chart clearly illustrates silver's bullish structure:
- Trend Respect: Price has consistently bounced along the 9-hour SMA, confirming that short-term momentum remains in control
- 50-SMA Break: The break above the yellow 50-hour SMA near $47.07 has turned this level into immediate support
- Measured Move: From mid-September lows, silver rallied nearly 17% in just two weeks, showing strong buying conviction
- Upside Target: Current resistance stands near $48.06, a critical short-term barrier—a breakout here could accelerate gains toward $49.00
- Aligned Averages: The bullish alignment of SMAs (9, 21, 50, 200) further validates the trend direction
What's Driving Silver Higher?
Macro tailwinds continue to support precious metals, with the weakening U.S. dollar and anticipation of monetary easing playing key roles. Silver benefits from both its industrial applications and safe-haven appeal amid global uncertainty. Technical momentum has also attracted traders, as the clean respect of support levels fuels the ongoing rally.
If silver maintains closes above $47.50, it could open the path toward $48.50–$49.00. However, a drop back below the 50-SMA would expose support at $46.00. Sideways action between $47.00 and $48.00 may extend before the next decisive move.
Usman Salis
