■ Silver's 6% weekly surge reflects shifting market dynamics following Fed's policy pivot
■ Plummeting Treasury yields create ideal conditions for non-interest-bearing assets
■ Technical indicators suggest $25 becomes critical threshold for further upside
The white metal continues its impressive ascent, building on Wednesday's Fed-inspired rally to test six-day highs near $24.20. This 1.5% intraday gain extends silver's remarkable recovery from recent lows, with market participants increasingly viewing precious metals as hedges against potential dollar weakness.
Technical analysis reveals silver currently trades midway between its September low ($21.88) and October peak ($25.91). While the daily chart maintains bullish structure, overcoming August's $25 resistance remains crucial for challenging year-to-date highs. Intermediate hurdles include psychological resistance at $24.50 before testing the August 30 swing high.
Should momentum fade below $24, traders might witness retracement toward clustered moving averages between $23.19-$23.55. This zone represents former resistance turned support, with the 200-DMA at $23.55 likely serving as primary downside target. A breach below $23 could signal deeper correction toward the psychological $22 handle.
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