Silver has been in an up-trend since March 2020. There is also a well defined resistance line since August 2020. Price just broke above this resistance and stayed above for 5 days. The support and resistance lines nearly form an up-sloping channel with a width of $18 to $10 ($14 average). The price objective is now $50 ($36 current + $14). This coincides with the prior high from 2011 which is the next major resistance level (orange flat line). A stop loss can be placed at the recently broken resistance line which is now support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.