Quick Recovery Context

The recapture of both moving averages marks a swift rebound after silver spent 14 days below them. Lower correction targets included the 50-day average at $46.53, now rising and converging with the channel centerline confirmed at $45.55—suggesting the pullback may be complete and the bull trend poised to resume.

Bull Trend Confirmation

Conviction from the $45.55 reversal will be measured against the mid-October $54.49 peak; exceeding that level confirms continuation. Today’s strength reduces odds of an immediate second top, with the bullish hammer and inside week on the weekly chart adding validation.

Next Resistance Zone

The four-week high at $52.78 emerges as the immediate upside objective. Today’s breakout already triggered the inside week and hammer setup, with confirmation likely on a daily close above the three-week high of $49.38.

Rising Channel Relationship

Silver operates within a rising trend channel that saw a late September breakout above the top line. The recent pullback briefly dipped below but respected the line as support on multiple occasions, including the $49.38 minor swing high test of resistance.

Channel Breakout Status

Today’s $50.56 high returned silver above the top channel line—another bullish signal. A successful retest of the line as support will confirm a second channel breakout and open higher measured targets.

Outlook

Silver’s rapid recovery and channel re-breakout favor bull trend continuation toward $52.78 and potentially $54.49. Watch for support confirmation at the top channel line on any pullback; sustained trade above $49.38 keeps momentum intact, while failure below $45.55–$46.53 would reopen correction risks.