Legendary trader Peter Brandt has issued a strong long-term bullish signal for the silver futures market. He recently released a 50-year silver futures chart, noting that a key resistance level that has persisted for decades has finally been broken.
Brandt pointed out that silver prices faced strong resistance at the $50 level twice, in 1981 and 2011, and reversed downward. At that time, the silver market reached historic highs, but failed to surpass those levels and entered a prolonged downtrend. However, he explained that the current situation is completely different.
According to the TradingView chart he shared, silver futures prices have clearly broken through the long-term downtrend resistance line connecting the early 1980s and 2011 peaks, and are currently trading at around $62. This is a rare long-term trend reversal signal in technical analysis, and could be interpreted as a cup-and-handle pattern or a breakout of the upper end of a long-term trading range.
Brandt also presented a specific scenario for future price movements. He predicted that even if a short-term price correction occurs, the low $50s, previously a resistance level, will likely serve as strong support. This suggests that the price range that has long held down the silver market has now become a foundation for further upward movement.
He proposed a phased approach to achieving his upside target. He set a medium-term target of $87 and assessed that the structural capacity for silver prices to surpass $200 exists in the long term. This emphasized that this was not simply a short-term rally, but rather a shift in the price structure itself, a process that has spanned decades.
This analysis aligns with the recent resurgence of interest in real assets in global financial markets. Silver, like gold, possesses dual characteristics as both an inflation hedge and an industrial metal. Therefore, if a long-term trend reversal materializes, the ripple effects could be significant.
