Silver Price Breaks Through $67.47, Eyes Higher Targets

The silver price has been steadily increasing since its July low, and analysts are watching for signs of further growth. On the daily chart, a larger trend is evident, with the spot silver price pushing upwards against resistance.

One key indicator being watched is the 200-day moving average, which remains critical in determining the long-term trend of silver prices. While resistance has been seen during previous advances, another upswing could develop, giving silver an opportunity to test this major trend indicator once again.

In addition to the 200-day average, a rising channel is forming on the chart, with early signs pointing towards higher targets for the metal. The $71.56 to $72.81 range appears to be within reach while remaining inside the boundaries of the channel.