- Silver extends its powerful rally toward $60, but momentum signals show early fatigue. This Silver Forecast breaks down key levels...
Silver pushed into Wednesday’s session still riding the extraordinary surge that has defined the last two weeks, with prices hovering near $58.45 and holding close to fresh multi-year highs. The metal has climbed at a pace that even seasoned traders acknowledge is rarely sustainable, rising more than 20% in under two weeks and extending far above its longer-term averages.
Buyers remain firmly in control, but candles are starting to narrow and intraday volatility is showing the first hints of fatigue. That doesn’t signal a reversal, only that the rally has reached a point where markets typically pause to breathe. A brief corrective wave would actually strengthen the broader trend rather than threaten it.
According to Forbes, silver is up 103.29% since the start of the year. Over the past 52 weeks, it has ranged between an intraday high of $59.02 (on December 3, 2025) and a low of $28.36 (on April 7, 2025).
XAGUSD Price Continues Toward $60 but Momentum Indicators Flash Caution
Today’s chart still prints green, but the signals beneath the surface tell a more nuanced story.
The monthly Bollinger Band upper boundary has been completely stretched, a condition that rarely persists for long, and momentum indicators that were rising in a straight line just days ago are now flattening.
RSI remains firmly overbought but is no longer accelerating, suggesting buyers may be easing off the gas even as price grinds higher. This type of behaviour, strong price candles with softening indicators, is typical in late-stage extensions.
If silver does cool off, the first reasonable support sits at $55–$54, a region of old resistance that would now offer a healthier landing zone. A deeper reset would pull price toward the $50–$48 band, but nothing on the chart points to that yet. For now, the story is simply an overheated market starting to stabilise at the top of its range.
Silver Technical Outlook: What Comes Next
The upside path remains open as long as silver holds above the mid-$50s. A clean break above $60 could trigger another momentum burst, especially if ETF inflows accelerate again or macro data pressures the US dollar lower.
But even in a bullish trend, vertical movements don’t last forever. My view is simple:
the trend remains powerful, but the distance from moving averages has become unsustainable, and the next strong candle may just as easily come from profit-taking instead of continuation.
For now, traders will be watching whether silver can stabilise above $58 without losing steam, a key tell for whether this rally still has legs heading into December’s first full week.
Silver is rising due to strong safe-haven demand, aggressive ETF inflows, and expectations of lower interest rates, which boost appetite for commodities.
Yes. Silver’s rally has pushed momentum indicators into overbought territory, suggesting the market may need a short-term cooldown before continuing higher.
It’s possible if bullish momentum holds, but price may first pull back toward support at $55–$54 before any attempt at a breakout toward the $60 level.
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