Alex Bobrov
⬤ Silver prices made a strong statement right out of the gate this week, with XAGUSD jumping approximately 3.6% during the opening session. This sharp move higher broke the pattern of sideways trading that had characterized the previous several sessions, signaling a potential shift in near-term momentum.
⬤ Looking at the recent price structure, silver had been consolidating after a solid rally from the mid-$70s up to the low-$90s. The consolidation formed a tightening pattern—higher lows kept developing along a rising support line while the upside remained capped by a descending resistance trend. This setup showed traders taking a breather rather than abandoning the bullish trend, as the metal held its gains without giving much ground.
⬤ Monday's opening surge drove XAG decisively higher, pushing prices toward the $93 area at the top of the consolidation zone. The move came fast and forceful, with a strong bullish candle reflecting aggressive buying interest right from the session start. After the initial spike, prices held steady near the highs rather than falling back, suggesting buyers remained in control and weren't rushing to take profits.
⬤ For silver traders, strong weekly opens like this often set the tone for short-term price action and can shift trading sentiment quickly. When price breaks higher from a consolidation phase this aggressively, the key question becomes whether it can maintain these elevated levels or whether it'll get pulled back into the previous range. How silver behaves over the next few sessions—whether it builds on this momentum or stalls out—will likely determine if this breakout has staying power or if we're headed for another round of consolidation.
Alex Bobrov
