⬤ Silver broke out of a textbook contracting triangle, signaling fresh momentum after weeks of tight consolidation. XAG/USD pushed decisively above descending resistance and is now holding near the $31.58 zone. The breakout marks a shift from compression into expansion mode, exactly what technical traders look for after a period of squeezed volatility.
The chart shows a classic setup—lower highs meeting higher lows, forming a tightening triangle after a strong rally. This wasn't distribution. It was balance. Once silver cleared the upper boundary, buyers stepped in hard, confirming the breakout and reinforcing the broader uptrend already visible across multiple timeframes.
From a trend standpoint, silver keeps posting higher highs and higher lows—the backbone of any sustained rally. That triangle resistance? It's now flipped into short-term support. No reversal signals are showing up, and price is comfortably above prior swing levels, meaning demand is still running the show as this rally stretches further.
The breakout matters beyond silver itself. Silver often acts as the high-octane sibling to gold during strong directional moves. Holding above the triangle keeps the door open for continuation toward recent highs, with $32.50 now serving as a key reference point. Sure, pullbacks can happen—they always do—but this confirmed pattern breakout underscores silver's technical strength and the market's current bullish tilt, as long as price stays above that former consolidation zone.
