Alex Bobrov
⬤ Silver stayed steady during the latest session despite lighter trading volumes caused by the US market closure. Price held firmly above important technical support, with no heavy selling pressure emerging. The recent opening gap remains unfilled, but the metal shows no signs of pulling back just yet—suggesting buyers are still in control for now.
⬤ The one-hour chart shows silver trading around the mid-$90 range, backed by several rising trendlines and a healthy Ichimoku cloud formation. The broader ascending channel that's been guiding the rally from the mid-$70s is still intact. While that unfilled gap sits below current levels, the lack of downside momentum tells us the metal is finding support during this consolidation phase.
⬤ All eyes are now on two nearby pivot resistance levels sitting just above current price. These zones line up with short-term trend resistance and the upper edge of the rising structure. If silver can push through these levels, it could open the door for a faster move higher. For now, price looks like it's building energy beneath resistance rather than preparing to reverse course.
⬤ This matters for the wider metals market because silver often mirrors momentum across precious metals during strong trends. How the metal handles these resistance levels will likely shape near-term volatility and the pace of any further gains, especially once full market participation kicks back in. The way silver interacts with these key zones could define where this uptrend heads next.
Alex Bobrov
