Alex Bobrov
⬤ Silver just wrapped up one of the cleanest technical setups you'll see in precious metals. XAG/USD broke out above its rising channel, pulled back to test the breakout zone, and then shot higher without looking back. That's the kind of price action that gets traders excited because it shows the market isn't second-guessing the move.
⬤ The chart tells a straightforward story. Price pushed through the upper channel boundary around $32, then dipped back to retest that same level. Instead of collapsing, it held firm and bounced hard. That retest is crucial because it proves what was once resistance is now acting as support. When you see that happen with conviction, it usually means the trend has real legs.
⬤ After confirming support, silver took off with strong momentum candles and climbed toward the $33.50 zone with barely any pullback. XAG/USD is now trading near recent highs, and buyers clearly aren't afraid of these levels. The lack of selling pressure after such a clean technical sequence suggests the market has fully accepted higher prices and isn't looking to reverse course anytime soon.
⬤ This matters beyond just silver itself. As both a precious metal and an industrial commodity, silver often amplifies momentum across the entire commodities sector. Clean breakout patterns like this one tend to build confidence and can spill over into related markets. As long as XAG holds above that former channel resistance and retest zone, the technical picture stays bullish and points to continued strength in the near term.
Alex Bobrov
