New Silver ATH, Sharp Drop, Strong Rebound – What’s Next?

Yesterday:
Silver finally made a new All-Time High, a moment that many precious metal traders have been waiting for.
After touching the 51.20 zone, price also experienced a sharp drop, similar to what we saw in Gold.
However — the situation here is notably different.
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Key Technical Observations
1. Support Retest, Not Overlap:
The recent drop found support on a horizontal level that acted as strong resistance earlier this week.
Unlike Gold, the structure didn’t overlap — a clear technical advantage.
2. Bullish Structure Intact:
The correction remained above the ascending channel’s support line, meaning Silver never exited its bullish formation — another plus point.
3. Strong Rebound:
At the time of writing, Silver is showing a solid recovery, reclaiming both the 50.00 level and the median line of the channel — a third technical confirmation of strength.
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Trading Bias
Unlike Gold, my bias on Silver is bullish in the short term now.
If Gold manages to rebound above 4,000, as I expect in the short term, there’s a high probability that Silver will print a new ATH.
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Key Level to Watch
I’ll be watching closely the upper boundary of the channel and yesterday’s high.
Since I’m currently out of the market and late to join the bullish leg, I’ll wait for price action to show its hand.
If signs of weakness appear in that zone, I’ll consider short opportunities, targeting yesterday’s low.
Until then — it’s a wait-and-see approach.