Silver's chart is still anchored by the 2025 breakout. The metal moved above the historic $50.36/oz high in October 2025, turning that area into the key long-term support zone.
Current trading is volatile. Nearby COMEX futures have moved between roughly $63 and $67/oz, while spot benchmarks sit in the mid-$60s.
Inventory data adds a physical dimension to the chart. COMEX registered stocks fell about 31% to around 86 million ounces by late February, and coverage was estimated near 13.4% of open interest in early April.
For buyers, the chart says patience matters. The $50-$51/oz zone is the structural line; the $60-$70/oz range is where staged hedges make the most sense.
Use $50-$51/oz as the risk line and $60-$70/oz as the hedge band. Do not wait for a perfect bottom; use tranches.