Long Silver Price Trend Analysis: US Treasury yields retreat triggering a rebound, traders eyeing the yearly high

Silver prices have recently been quite interesting. As US Treasury yields begin to decline, the price of silver has rebounded from its lows and is currently stabilizing around $51.37. This rally is quite strong, with the Relative Strength Index (RSI) on the technical charts showing a solid performance, indicating that the upward momentum has not yet exhausted.

Where are the bulls’ targets?

Traders are now focusing on two key levels. The immediate resistance is at $52.46 (the high created on November 13). As long as silver can hold above this level, there is a chance to challenge the year-to-date high of $54.46. Above that, the psychological level of $55.00 awaits. From a technical perspective, the RSI still indicates strong buying interest, so the probability of an upward breakout seems higher.

Where is the support line for the bears?

However, risks do exist. If silver falls below the support level of $51.00, caution is warranted—next support is at the round number of $50.00. If that level also fails to hold, the 20-day moving average at $49.67 will become the new support zone. Going further down, the 50-day moving average at $48.45 will serve as the next support.

Currently, the minimal resistance path on the technical charts points upward, but traders should remember: confirmation of a breakout is key. Only by holding above $52.46 will the bullish story truly begin. The future performance of silver prices depends on whether this critical level can be maintained.