Silver
BullishArchived analysis from Sep 2, 2026, 4:03 AM
Key insight
63.72 trades within a consolidation range after the 2026 run to multi-decade highs; next directional break above 67.00 August swing high or below 60.00 structural support decides the intermediate trend.
63.72 holds above the 200-day MA near 58.50 and the 2025 breakout level at 60.00 — structural uptrend intact despite today's -0.57% pullback alongside gold's -0.7% drop.
Main risk
USD/JPY at 160.3 — BoJ intervention risk
USD/JPY at 160.3 pressures yen carry unwind risk; a sudden JPY surge would hit silver hard via dollar strength and broad commodity deleveraging.
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