#大户持仓动态 Silver surges 120% then enters a critical consolidation! Can it break previous highs? Tonight's focus

Silver today repeatedly fluctuated around 66.479, multiple attempts to probe the previous resistance at 66.879. Although it hasn't successfully broken through yet, the lows are gradually rising, indicating strong buying momentum. However, in the late session, it suddenly pulled back slightly, breaking below the 66 integer level, which has slowed the short-term upward pace. The key battle tonight depends on whether it continues to push higher or enters a wide-range fluctuation. The market will watch these few hours closely.

Why is the rally so fierce? There are three main factors driving it

First, the US dollar index has been testing lows, staying away from the 98 level, indicating a significantly loose monetary environment, which directly provides room for silver to rise. Second, November's CPI and core inflation both rose, making silver, as an important anti-inflation asset, highly sought after by funds. Third, the tight global supply situation combined with a surge in demand from the new energy industry has pushed silver up 120% this year, supported by strong fundamentals. This combination is indeed rare.

What does technical analysis say? The key levels are these two points

The critical support/resistance line is the previous high at 66.879. If during the US session, volume increases and it stabilizes here with a solid candlestick breakout, the immediate target is the 67.5 to 68.0 range. On the downside, the 65.5 level must be defended intra-day, with a stronger support at 64.2. As long as 64.2 holds, the upward trend remains intact; breaking below would lead to a wide-range oscillation between 64.2 and 66.8.

How to operate reliably tonight? Both directions have opportunities, but avoid chasing highs

For those looking to buy low, wait for silver to pull back to the 65.5–65.8 range and stabilize before entering. Set stop-loss below 64.2 to effectively avoid trend reversal risks. For those chasing higher, wait until the 66.879 level is successfully broken and confirmed by a solid candlestick before adding a small position. Emphasize that position size should be kept light, as false breakouts and pullbacks are common.

Tonight, focus on the volume changes in the European session's late stage and the dollar's volatility. If the dollar continues to weaken along with volume support, the probability of silver breaking previous highs and initiating a new rally will greatly increase. What do you think? Can silver hold above the previous high and start a new big rally?