Silver's Price Action: A Volatile Ride Above Critical Support

Silver's price action has been unpredictable since early Q3 2026, making it difficult to determine its future trajectory. After reaching an all-time high of $121.785 per ounce in January 2026, COMEX silver futures have been in a bearish trend.

The daily continuous COMEX silver futures chart shows that silver continued to make lower highs and lower lows, reaching its latest low of $55.00 per ounce on July 17. However, it recovered to $66 per ounce on August 12.

The critical technical support for the bullish trend since the 2020 low of $11.64 remains at the 1980 high of $50.36 per ounce. This long-term technical resistance has become critical technical support as silver prices plunged after the early 2026 high.