⬤ Silver prices jumped sharply higher, now trading near 103 on the 2-hour chart following a strong upward push. The current price structure shows silver climbing within a well-defined ascending channel, followed by acceleration toward the upper boundary. The chart reveals a consistent pattern of higher highs and higher lows, signaling solid bullish momentum in the short term.
⬤ The chart shows silver steadily climbing from the lower trendline of the rising channel before testing resistance near the upper edge. Price action has stayed positive, with minor pullbacks and steady upward movement. A projected path suggests gradual advances rather than a dramatic spike, though this depends on price staying above the rising channel.
⬤ Based on current trend dynamics, the chart points to a potential move toward the 120-125 zone in the coming days. This target comes from analyzing the existing trend rather than a guaranteed outcome. The projection assumes the bullish structure continues, with analysis based purely on price action and trend geometry.
⬤ This price strength is worth watching since silver rallies often coincide with broader momentum across precious metals. If silver holds above the channel's upper boundary, it would confirm the bullish trend. However, failing to maintain these levels could trigger consolidation or a pullback toward trend support. As silver approaches higher zones, short-term volatility may pick up, making the next few sessions critical for determining whether this rally has legs.
