Earlier today in the Lab Notes, we flagged the breakout structure forming on silver and highlighted key upside levels to watch.
Fast forward a few hours - and silver just smashed through them all.
No flashy calls. No wild predictions. Just solid structure, key zones, and one clear message: buyers were getting ready.
Let’s break down what just happened - and what levels are now in play.
Despite a shortened session in the U.S. (post-Thanksgiving Friday), the bulls showed up ready to hunt. After closing the earlier gap, price took off - not only tagging the initial upside target from this morning’s Lab Note……it exploded above it.
Where to now?
Two zones to keep a close eye on:
- 5600 - psychological round number that could act as a short-term barrier
- 5625-5650 zone - a powerful confluence of: the upper border of the purple rising channel and the 127.2% Fibonacci extension (measured from the last major swing)
Today’s rally also triggered a breakout above the narrowing green wedge. If bulls hold above that wedge’s breakout… the door to 5695-5700 could be open - especially if buyers can chew through resistances on the daily first.
My quick takeaway: silver just proved it has fuel. Momentum is on the bulls' side for now, but they’re approaching heavy resistance. What matters next?
Key levels to watch:
- 5600: psychological barrier
- 5625–5650: dual resistance zone
- 5695–5700: extended target if the breakout holds
Let’s see how the bulls handle the pressure and whether this breakout turns into something even bigger.
More to come in Monday’s full Lab Notes. Stay sharp.
Anna
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