Tatiana Kashyrskaia
⬤ Silver is holding firmly within a long-term rising channel on the XAG/USD chart, showing consistent bullish momentum. The metal has climbed from under $50 to above $110 while maintaining respect for both rising support and resistance boundaries. Market analysis suggests a short-term pullback toward $105 remains on the table before silver gears up for its next leg higher.
⬤ Recent price action shows XAG/USD silver touching the upper edge of its ascending channel, where it's now catching its breath after an extended run. The $105 level lines up neatly with the rising trendline support visible on the chart, making it a logical target if we see a near-term correction.
⬤ The bigger picture for XAG/USD silver stays bullish despite pullback risks. The chart clearly shows higher highs and higher lows stacking up, keeping the upward momentum alive. A controlled drop to $105 would actually fit perfectly within the channel structure and wouldn't damage the broader bullish outlook, including the potential push toward $150 down the road.
⬤ Silver's performance matters beyond just precious metals traders. As a key sentiment gauge for the entire metals sector, XAG/USD strength often ripples through related assets. How well silver defends its rising support line could be crucial for keeping the current trend intact and market confidence strong.
Tatiana Kashyrskaia
