After a sharp and sometimes volatile stretch for silver, the technical picture is beginning to look more encouraging.
As noted by analyst Clive Maund, several developments showing up on the charts suggest that silver may be working its way through the recent correction and preparing for another move higher.
The charts below -- helpfully annotated by Maund -- look at silver from several different perspectives, including the longer-term price structure as well as the more recent action.
Taken together, they suggest that selling pressure in silver may be abating and that a new uptrend could emerge in the coming days.
The longer-term chart puts the recent decline into perspective. Silver has experienced a substantial correction, but that pullback needs to be viewed against the powerful advance that preceded it.
The chart of the iShares Silver Trust (SLV) provides another way of looking at the same market. The price action, volume, and momentum indicators help illustrate how the character of the recent decline may now be changing.
Perhaps most interesting is this shorter-term chart. Here, a potential cup-and-handle base is taking shape — a pattern technicians often watch for as a possible precursor to an upside breakout.
If silver can complete this basing process and break above nearby resistance, it would strengthen the case that the correction has run its course and a renewed advance is beginning.
The Bottom Line: Silver has already demonstrated that it can make large moves in both directions, and volatility is likely to remain part of the picture. But after the recent correction, the technical setup is becoming considerably more constructive.
The next several trading sessions could therefore be important. A convincing breakout from the developing patterns shown above would provide further evidence that silver is ready to turn higher again.
Turning to the mining stocks, we'll leave you with one last chart below. While the gold miners lag the positive positioning we see developing in the charts for silver bullion, they, too, have repaired recent damage and are rebuilding strength.
Charts and technical analysis by Clive Maund. Originally published September 16, 2026.
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