The price target for silver, identified in the short-term and long-term chart analysis, was recently reached – and the timing derived from the long-term trend line for prices above $40 also fits the current picture.
What’s Next for Silver from a Technical Chart Perspective?
The trend line in place since 2022 (upper boundary of the channel) has been tested multiple times since then but not broken, and is thus considered very strong – another strong upward impulse in the short term is therefore less likely.
Furthermore, silver has now also reached the red six-month trend line. The considerable distance to the 200-day moving average (almost 20%) is also likely to have a dampening effect. The Stochastic and DMI indicators suggest a waning momentum in price movement – the Stochastic recently produced a sell signal (blue line crosses red line downwards). With the DMI, the blue line, which indicates the strength of the current movement, is now falling – additionally, the green line turned downwards and the red one slightly upwards, which could be a first indication of a short-term trend reversal.
