by Jesse Colombo, Silver Seek:
(Note: I originally shared this report a couple of weeks ago, but with silver breaking out over the past week, I’ve updated the charts and data and am sharing it again as an essential roadmap.)
Gold has been soaring all year, while silver has spent the past nine months languishing, leaving long-suffering investors wondering: Will silver always play second fiddle to gold, or is it finally ready to shine? Like many, I’ve been frustrated by silver’s lackluster performance, but in this report, I’ll highlight a growing number of reasons to believe its rough patch may soon be over. Silver may finally step out of gold’s shadow and embark on a sustained bull market of its own.
TRUTH LIVES on at https://sgtreport.tv/
The first key sign that silver is ready to surge is its decisive move above the $32 to $33 resistance zone, which has acted as a stubborn ceiling for much of the past year. This breakout is an encouraging signal, but the next crucial confirmation will be a strong, high-volume close above the $34 to $35 resistance zone—the same level that halted the late-October rally in its tracks. Once silver clears both barriers, the path should be wide open for the powerful bull market I’ve anticipated since April 2024. However, for this breakout to remain valid, silver must close and hold above both resistance zones; otherwise, all bets are off.
Recently, silver broke above the €30 level—a bullish signal—establishing it as a new support. Next, a decisive close above €32 (the late October high) is necessary to signal that the next phase of the bull market has begun. That said, for the breakout to remain valid, silver must close and hold above both resistance zones; otherwise, I would consider it invalidated.
Although silver has traded in a choppy, erratic manner for much of the past year, it is in a confirmed uptrend, despite grinding higher in a frustrating “two steps forward, one step back” manner. This is evident in the 200-day simple moving average, a helpful tool for identifying an asset’s primary trend by filtering out short-term price fluctuations.
More importantly, the 200-day moving average suggests that the odds favor further gains, as a trend in motion tends to stay in motion—much like Newton’s first law of motion, also known as the law of inertia. The even better news is that once silver fully breaks out, as discussed earlier, I expect it to rise in a much more orderly fashion rather than continuing its erratic price swings.
