Saad Ullah
⬤ Silver has been on an absolute tear lately, smashing through long-term resistance and rocketing higher on the weekly chart. The metal decisively cleared the $49 resistance zone that had held it back for so long and pushed into the mid-$60s without much hesitation. This isn't just a casual breakout—it's confirmation that we're in a full-blown bull market phase, fueled by strong technical momentum and investors piling back into safe-haven assets.
⬤ The technical setup here is textbook. After years of grinding sideways below key moving averages and horizontal resistance levels, silver finally broke free and transitioned into what can only be described as an explosive expansion phase. The chart shows measured move projections pointing toward the $87 area, which lines up with long-term technical targets that analysts have been watching.
⬤ But here's where things get interesting—and a bit concerning. The rally has become increasingly vertical, showing all the classic signs of a parabolic move. Sharp gains, minimal pullbacks, and price action that's almost straight up. History tells us these kinds of runs don't end gently. When parabolic moves finally exhaust themselves, the reversals tend to be fast and brutal rather than slow and orderly.
⬤ This matters for more than just silver traders. As both a monetary metal and a safe-haven asset, silver's price action ripples through precious metals markets and related sectors. While the long-term trend still looks bullish, the sheer speed of this advance is flashing a yellow flag. Anyone positioned in this trade needs to stay alert—when sentiment shifts and the momentum crowd exits, things could get bumpy in a hurry.
Saad Ullah
