The current setup for silver (XAGUSD) and the iShares Silver Trust (SLV) is a classic example of a high-risk, high-reward coiled spring. Following a parabolic run in late 2025 that saw silver prices breach the $100 level for the first time in history, the metal underwent a violent correction to the $67 range early this year.
This move effectively shook out the "froth" and created a reset for silver stocks. Now, silver is setting up for a big follow-on move. But will it be up or down? Let’s study the charts, and then examine the bull and bear cases.
