⬤ Silver took a hit in the last session but quickly found its footing above a rising channel that's been supporting prices for roughly two and a half months. The sell-off looked scary at first, but XAG/USD stabilized without breaking through the channel's lower boundary—a sign that bulls are still in control of the bigger picture.
⬤ The chart shows a clean upward channel that's been guiding silver higher for weeks. Even with the recent drop, prices never fell below the channel support, which means the uptrend is still alive and well. This pullback actually looks similar to earlier dips that happened during the same climb—nothing that shook the foundation.
⬤ There's a marked breakout point on the chart where silver really picked up steam inside the channel. Since then, prices have been making higher highs while respecting the channel walls. The latest decline mirrors those earlier corrections that got absorbed without killing the momentum.
⬤ Why this matters: When silver holds above a multi-month rising channel through volatile swings, it usually shows strength rather than weakness. The fact that XAG/USD can shake off sharp drops without cracking key support levels helps keep traders confident during rough patches. As long as the channel holds, the technical setup still favors the uptrend staying intact.
