Silver’s technical setup is increasingly bullish. The MACD indicator completed a bullish crossover on Tuesday, with the signal line moving above the MACD line. This crossover has historically preceded silver rallies of 5-8% over the following 2-3 weeks.
The 14-day RSI at 63 remains below the overbought threshold of 70, suggesting there is room for further upside before the market becomes stretched. Volume analysis shows strong accumulation on up days, reinforcing the bullish technical picture.
The $60 level represents the most significant near-term resistance. A closing price above $59.80 on high volume would signal that the market has sufficient momentum to test $60. Above $60, the next resistance level is $62.50, the high from November 2025.
Key support lies at $57.80 (this week’s low), with stronger support at $56.50 (the 20-day moving average). A pullback to support would be healthy for the trend, but a close below $56 would invalidate the current bullish setup.
Silver’s positive technical setup suggests the path of least resistance is upward. Buyers with near-term requirements should consider covering needs now rather than waiting for a pullback. If $60 is breached on strong volume, expect momentum-driven buying to accelerate. Set protective stops if holding silver price exposure.