Silver’s technical structure remains firmly bullish. The 50-day moving average at $39.20 continues to provide trend support, with swing chart support stepping up at $41.14, $40.73, and $40.40. These levels offer short-term entry zones for dip buyers. The breakout above $42.97 marks a technical inflection, turning that level into fresh support.
Momentum traders are now focused on $44.22 as the next resistance level, with potential upside extension if gold regains momentum toward $3879.64 and possibly $4000.
Physical Demand Rotation Supports Silver
While gold remains in high demand—evidenced by India’s record premiums—silver is increasingly attracting attention as a more affordable alternative. Platinum is also gaining interest for similar reasons. This rotation suggests traders are positioning for broader exposure to metals without chasing gold’s elevated price levels.
In China, gold discounts widened to a five-year high, but this has not impacted silver’s appeal, as industrial demand and investor flows remain supportive.
Silver Outlook: Buy-the-Dip Remains the Play
Silver is in a confirmed uptrend with firm technical and macro support. As long as prices hold above $40.40, dip buying remains a favored strategy. The next target at $44.22 is within striking distance, with momentum to extend further if rate cut expectations grow or gold resumes its climb. Caution is advised on a break below $40.40, which could trigger a retracement toward the $39 handle.
Source: Silver (XAG) Forecast: Bullish Rally Targets $44.22 as Silver Market Momentum Builds
