The XAG/USD chart shows silver breaking above the upper edge of the February descending channel, defined by lower highs and lows.
Bullish momentum is being fuelled by rising geopolitical tensions and increased demand for safe-haven assets. Media reports highlight:
→ On Thursday, US President Donald Trump issued a warning to Iran, demanding a nuclear deal within 10–15 days, or “really bad things” could follow.
→ Tehran responded by threatening strikes on US bases in the region if attacked.
Earlier, on 11 February, analysis indicated that silver was trading within a key range:
→ resistance between $87.5 and $95
→ support around $70
Today’s breakout above the channel’s upper limit – previously acting as resistance – suggests a potential move toward the $87.5–95 zone.
Bullish confidence is also supported by an inverted head and shoulders pattern. A sustained move above $79, and the psychological $80 level, would reinforce the bullish case for XAG/USD.
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