Silver trades around 14 years high in a breakout

[Redator]

Silver has been working a catch up in terms of performance compared to the more-shining Gold that really took off against other traded metals in the first half of the year.

Our past analysis of Silver observed the addition of elements that could lead to a breakout, with that outcome actually taking place in the past 4 sessions.

Prices went from a $36.5 consolidation zone to highs of $39.13, a 7.5% rise to levels not seen since September 2011 spikes.


Let's take a look at where prices currently stand as metals have been retracting slowly off of Friday highs – The Dollar Index broke out after the 9:30 Market Open and this usually doesn't help with Precious Metal Performance.

Read More: The US Dollar cannot find a direction despite the positive CPI report

Silver Intraday Update

Silver 4H Chart

Silver 4H Chart, July 15, 2025 – Source: TradingView

Last week's consolidation at its middle of the range with the 4H MA 50 coming in as support gave some great technical conditions pointing towards the eventual breakout that took the metal to its Friday 39.13 highs on a tight bull channel.

Overbought conditions have led to some reversals in anticipation of today's CPI Release.

One thing to spot on the current corrective sequence is the playing of the immediate support zone around the 2012 highs (37.50 +/- $0.15). Holding this Zone would consolidate further the breakout towards a new trend.

Any rebound from here would also need to test the upper bound of the channel as the most recent highs stalled about $1 from that area, however time consolidation could lead to even higher prices that is, as long as prices hold the support zone mentioned just before.

Silver 1H Chart

Silver 1H Chart, July 15, 2025 – Source: TradingView

Placing a Fibonacci tool from the last swing lows to the current highs points at potential stalling within the correction around the 78.6% level at $37.75, within the Support Zone.

1H Momentum is write at oversold after the CPI led to some further correction in prices – About the CPI, the report came in just below expectations, something that should have seen a small rebound in the precious metal however subsequent USD Buying led to the current outcome.

This is a story to watch as markets may start to fade such data points and this tends to form longer trends. We will watch upcoming reactions to data releases in that aspect.

Silver 30m Chart

Silver 30m Chart, July 15, 2025 – Source: TradingView

The 30m and 1H 50-period Moving average are now acting as resistance and will be key barometers for either continuation (use the MA as selling point) or recovering of strength (breaking out of both the upper bound of the descending 30m channel + the 50 period MA – $38.25)

In any case, prices are now contained between the 50 and 200 30m MA which may point to the consolidation scenario around the $37.75 Fib, as prices are currently entering the 2012 High Support.



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