Silver Price Surges to 2025 Highs, Breaking Resistance in Fifth Attempt

After multiple failed attempts, silver has finally broken through stubborn resistance levels, reaching highs not seen since 2025. Momentum indicators are pointing towards further upside, making this a promising opportunity for traders.

Analysis:

Silver has broken through resistance at $30.87 and $31.48, showing strong bullish momentum. With indicators like MACD and RSI supporting the upward trend, traders can consider buying dips and bullish breaks. If silver can hold above $31.48, it may signal a continuation of the uptrend towards targets at $32.18 and potentially $33.10.

On the other hand, if silver fails to maintain above $31.48, the bias may shift to neutral, favoring range trading strategies. A reversal below $30.87 would invalidate the bullish signal entirely.

Gold Correlation Strengthens

Gold has also been on a bullish run, setting record highs amid news of tariffs on Mexican and Canadian imports. The strong correlation between silver and gold (0.81) suggests that the technical outlook for gold is relevant for silver traders.

With MACD and RSI signaling bullish momentum for gold, traders can look for opportunities to establish long positions with caution. Keeping an eye on key levels like $2800 can help in setting near-term targets and exit points.

In conclusion, both silver and gold are showing strong bullish signals, offering potential trading opportunities for investors. By understanding the technical analysis and key resistance levels, traders can make informed decisions to capitalize on the current market trends.