Silver Soars: Bulls Aim for $100 – But Will They Make It?

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The Silver Saga: A Dance of Dollars and Desperation

The XAG/USD, that sly fox, now dangles at $90.28, having snuck up 2.25% like a thief in the night. The recovery, a flicker of hope, follows a fall so deep it could’ve made a cave weep. Buyers, those valiant underdogs, swooped in at $86 and $87, turning weakness into a fleeting victory. The support area, a stubborn wall, whispers, “Demand still thrives, even in the shadows of retracement.”

On the grand stage of the Investing.com chart, silver lags behind, a tired mule plodding through the dust. Yet, in the long run, it’s a 6.74% waltz in a week, a 68.99% tango in three months, and a 133.84% marathon in six. The one-month dip? A hiccup, a stumble, nothing more. The bigger picture? A relentless march, though the road is paved with skepticism.

Technically, the price inches toward the $90-$91 gate, a narrow chokepoint. Break through, and the bulls roar toward $100. But linger below $88.50, and the dream falters. The market, that fickle lover, teeters between hope and despair.

Trading Economics: Silver’s $90 Triumph

Now, silver clings to $90.41, a 2.43% rise, as if the market itself has taken a breath. The $90 mark, that psychological fortress, now stands as a beacon. The recent volatility? A storm, but the silver lining persists. The buyers, those relentless optimists, reignite the flame of interest.

On Trading Economics’ canvas, silver’s long-term trend is a roaring fire. Last year, it leapt from $30-$35 to nearly $115-$120, a leap of faith. Even after the fall, it hovers above its old highs-a sign the structure isn’t broken, just bruised.

The market, now forging a higher bottom between $80 and $95, is a fragile peace. Break $95-$100, and the bulls charge again. But hold $85, and the bullish dream lives on. The market, that capricious beast, balances on a knife’s edge.

SLV: The Silver ETF’s Rocky Ride

The iShares Silver Trust, a weary steed, now trots near $80.45, its daily high a fleeting glory. After February’s brutal pullback, the ETF clings to the $70s, a lifeline. The upward trend? A slow crawl, but a crawl nonetheless.

Technically, the MACD histogram, that fickle indicator, turns positive. The line, once a prisoner, now dares to break free. But until $85-$90 falls, the victory is unconfirmed. The Chaikin Money Flow, a ghostly specter, hovers at -0.01-a whisper of caution. As long as SLV stays above -75, the dream lingers. But fall lower, and the nightmare begins.

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2026-02-28 06:55