Helena Izotova
⬤ Silver entered a consolidation phase after its sharp climb, with prices stabilizing near the mid-$90 range on the 45-minute XAG chart. The metal needed this breather following its recent surge, and the chart confirms a tightening price structure rather than any reversal signal. Silver's holding above rising support, showing buyers are still around despite the momentum cooling off.
⬤ The chart highlights an ascending wedge pattern—higher lows meeting gradually rising resistance. Price action's staying contained within this structure, pointing to a balance between traders taking profits and fresh demand coming in. Silver's respected the lower trendline multiple times, while upside progress has slowed near the upper boundary around $95. It's textbook consolidation behavior after a strong directional move.
⬤ The bigger picture makes this pause more meaningful. Silver rocketed from the low-$80s toward the mid-$90s with barely any time to catch its breath. This current range lets volatility cool down and gives market participants a chance to reassess their positions. While there's talk about higher long-term levels beyond $100, Silver's still trading below that mark with no confirmed breakthrough yet.
⬤ This consolidation phase matters for the wider precious metals landscape since Silver reflects both industrial demand sentiment and speculative flows. Maintaining structure within the ascending wedge keeps the short-term trend constructive while the market digests earlier gains. How Silver breaks out of this narrowing range could shape near-term price action without necessarily signaling a major trend shift.
Helena Izotova
