Helena Izotova
⬤ Silver prices have surged to an exceptionally extended position relative to their long-term trend, as shown on the weekly SLV chart. Silver is currently trading close to 100 percent above its 30-week exponential moving average—a condition that stands out sharply when compared with historical behavior over the past two decades.
⬤ The iShares Silver Trust chart shows price accelerating steeply and separating from its 30-week EMA, as well as from shorter-term moving averages. This degree of extension is visually striking, with SLV rising almost vertically while the long-term trend line remains far below current levels. Volume has expanded alongside the move, reflecting heightened activity as silver pushed to levels not seen in prior cycles.
Silver is currently trading close to 100 percent above its 30-week exponential moving average, a condition that stands out sharply when compared with historical behavior over the past two decades.
⬤ Historically, silver has rarely traded even 40 percent above its 30-week EMA during the past 20 years, making the current distance from the trend highly unusual. Previous instances of elevated separation between price and the long-term average were limited in duration and occurred during periods of extreme momentum. The current extension exceeds those past episodes, placing silver well outside its typical historical range.
⬤ Extreme deviations from long-term trend measures often coincide with heightened volatility and sensitivity to changes in market conditions. Silver trading so far above its 30-week EMA highlights the strength of recent momentum while underscoring how uncommon the current configuration is on a multi-decade timeframe. The relationship between silver and its trend levels will remain an important reference point for broader market dynamics.
Helena Izotova
