Marina Lyubimova
⬤ Silver has risen sharply pushing well above the triangle that had pointed upward for weeks. The price did not merely nick $55; it stayed beyond that mark and reached the low $60s, a sign that the market mood has changed.
⬤ On the chart the metal has climbed in steady steps since late summer, each low higher than the one before tracing a rising support line. Each test of the upper edge brought more buyers squeezing price into the tight triangle. Once that edge gave way, silver sped up without a pause.
The move took off once price cleared $55, the barrier that had limited every rally during the earlier sideways stretch.
⬤ What reassures observers is the way silver has acted after the push. Instead of falling back, it has rested above the old barrier - yesterday's ceiling now serves as a floor. Short pauses just above the breakout show traders accept the new level and the absence of any deep drop says the uptrend is still in place.
⬤ When momentum grips this metal, the swings run far. A breakout from a pattern that formed over multiple months can lift sentiment through the whole precious metals group. With price holding above $55 and the chart structure still pointing up, the near term outlook stays positive.
Marina Lyubimova
