Eseandre Mordi
⬤ Silver's rally picked up more steam in the latest session, continuing an impressive run that's been gaining momentum for weeks. The daily chart tells a clear story - price is moving higher with real conviction, supported by a well-established rising trendline and consistent buying interest. The metal just printed another bullish candle, adding to a clean pattern of higher highs and higher lows that traders have been watching closely.
⬤ Looking at the chart, silver is trading comfortably above both its 50-day and 200-day moving averages, with the shorter-term line pointing sharply upward. What's interesting here is that the resistance zone around the mid-50s that silver struggled with before has now flipped into support. Price hasn't looked back since breaking through, and the smooth upward slope of the trendline shows this isn't just speculative frenzy - it's controlled, sustainable momentum.
⬤ Recent price action shows buyers jumping in during every small pause, not letting any real pullbacks develop. The move toward the upper-60s has been remarkably steady, with orderly candles that suggest strong underlying demand. Bears who bet against this trend have been forced to cover their positions into strength, while traders sitting on the sidelines are now chasing the move higher, which only adds more fuel to the rally.
⬤ This matters for the broader metals market because silver tends to reflect both industrial demand and bigger macro trends. What we're seeing now looks like genuine confidence, not a blown-out top ready to reverse. There's no sign of exhaustion or bearish consolidation forming on the daily timeframe. As long as price stays above its rising support line and those key moving averages, the path of least resistance remains higher, making silver one of the standout performers in precious metals right now.
Eseandre Mordi
