Silver Shines Bright: Breakout Sets the Stage for 70SILVER (US$/OZ)TVC:SILVERAMIT-RAJANHello Traders! Silver has been building a strong base for several weeks after finding support around the $55–56 zone. The prolonged consolidation has now resulted in a decisive breakout above the key $62.3–62.5 resistance zone, suggesting a potential shift from accumulation to a new bullish expansion phase. What Makes This Setup Interesting? 200 EMA Breakout: Silver has reclaimed the 200 EMA after trading below it for an extended period, signalling a potential change in the medium-term trend. EMA Breakout + Retest: The breakout was followed by a successful retest, with price holding above the EMA and strengthening the bullish structure. Major Resistance Breakout: The long-standing $62.3–62.5 resistance has finally been taken out, clearing an important supply zone. Best Continuation Entry: For traders looking for confirmation rather than chasing the initial breakout, the breakout of the recent swing high formed above the resistance zone could offer the best continuation entry. Target Confluence: The projected target is around $69–70, supported by multiple technical factors: Range/Channel Height Projection Parallel Channel Breakout Breakout Structure & Measured Move Previous price-action structure around the $70 zone This confluence makes $70–71 an important medium-term objective to watch. Invalidation: The bullish setup would weaken if Silver fails to sustain the breakout and starts closing below the key resistance zone around $62.3–62.5. Therefore, for this setup, a close back below resistance will act as the primary invalidation signal. Trade Structure: Resistance: $62.3–62.5 Continuation Trigger: Breakout of the recent swing high above resistance Target Zone: $70–71 Invalidation: Close below the breakout resistance The idea here is not to chase the first breakout candle, but to look for confirmation and continuation above the newly established swing high. Let’s see whether Silver can convert this major breakout into a sustained move toward the $70+ zone. Closing Note: As always, this is a technical view based on price action and chart structure. Markets can behave differently from expectations, so manage risk according to your own trading plan. Trade safe & trade smart! Thanks for reading. Regards Amit.