$Silver ( $XAG /USD) – Monthly Chart Analysis

Silver has completed a long-term base after the 2011–2020 corrective phase and is now showing a strong impulsive move from the swing low near $11.5. The breakout above the previous swing high around $49–50 confirms a bullish trend on the monthly timeframe. Price momentum is strong, suggesting continuation toward higher Fibonacci extension zones. Target - 4

Extended upside potential toward $84–88 if the bullish structure sustains.

Former resistance near Target -3 $63–66 now acts as an important long-term support. Holding above this zone keeps the bullish bias intact.

Fundamental View (Brief):
Silver benefits from a dual role—precious metal + industrial demand. Growing usage in solar panels, EVs, electronics, and green energy supports long-term demand. On the macro side, expectations of lower interest rates, a weaker USD, and ongoing inflation hedging increase investor interest in silver. Supply constraints and limited new mining output further strengthen the long-term bullish case.

Overall:
Technically and fundamentally, silver remains structurally bullish on higher timeframes, with pullbacks likely to be corrective as long as price holds above the prior breakout zone.

Chart for the reference only