It seems that the reports of silver’s death have been greatly exaggerated, and far from plunging below $50, thesilver priceis poised to rally back to $100/ounce and beyond as the volatile year of 2026 moves toward its midpoint.

Let’s start with this simple fact. As I type, the spot price of silver is $85.65/ounce. That alone is remarkable! If you don’t see it that way, perhaps I should remind you of how the price reacted the previous two times in history it approached $50/ounce. Do you recall 1980 and/or 2011? If not, here’s a chart to help jog your memory:

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On that monthly chart, notice that the silver price reached a high of $48.00 in January of 1980. It then reversed the very next month and was back to a low of $11 by May. Price was nearly dead for the next twenty years before once again approaching $50 in April 2011. Like 1980, it reversed the following month and was back down to $30 by September.But look at what happened this time. Price made its first ever reach of $50 in October of last year, and it traded back down to $47 in November. However, there was not to be a full reversal this time and price reached the current all-time high in January 2026. We are now into May—which means this will be the eighth consecutive month of $50+ silver prices. That’s unprecedented. That’s historic. And the streak looks poised to continue.

Let’s now shift our focus to the current daily chart of COMEX silver futures and look at two versions of the same chart. The first shows the front month Jul26 silver contract with all of its key moving averages. Notice that when silver was consistently making new all-time highs in late 2025 and early 2026, price was moving higher and bullishly above all four upwardly-sloping moving averages. The breakdown in late January broke the trend, but now, after some false starts, price is again above all four MAs. From here, any sustained, multi-week rally will allow the MAs to bullishly recross and we will be right back to the setup that helped push price to the recent all-time highs.

This second chart shows features I consider more important. I’ve removed the moving averages and have drawn some important levels and trendlines to watch.

Silver Bull Market Outlook and Price Breakout PotentialLet’s start with the action in January. Notice that price originally peaked at $95. If there was any “bubble” or “excessive bullishness” in silver, it played out over a period of five days when price moved $95 to $123—or nearly 30%. The collapse that followed nearly cut price in half over just six trading days. Next, note that the rally in February took price right back to $95 before a second drop to near $65 in late March. As such, the current trading range is quite easily identified as being bounded by $65 at the bottom and $95 at the top. Which direction price breaks from this range will determine where it heads next.Read More @ SprottMoney.com

Let’s start with the action in January. Notice that price originally peaked at $95. If there was any “bubble” or “excessive bullishness” in silver, it played out over a period of five days when price moved $95 to $123—or nearly 30%. The collapse that followed nearly cut price in half over just six trading days. Next, note that the rally in February took price right back to $95 before a second drop to near $65 in late March. As such, the current trading range is quite easily identified as being bounded by $65 at the bottom and $95 at the top. Which direction price breaks from this range will determine where it heads next.

Source: SGT Report