SLV Weekly Technical Analysis
iShares Silver Trust
Tracks the price of physical silver bullion. Silver has both monetary and industrial uses, making it more volatile than gold. It is commonly viewed as a leveraged play on precious metals with sensitivity to economic growth, inflation, and speculative cycles.
SLV Technical Analysis Summary
SLV has executed a historic parabolic move, breaking out of a long-term base to reach highs near 110 before printing a violent reversal candle this week. This price action, characterized by an 18% drop on record volume, signals a classic blow-off top that likely marks a medium-term peak and initiates a period of high volatility and mean reversion. While the long-term trend remains technically bullish above the 50-week SMA, investors should anticipate further downside or consolidation as the price seeks equilibrium near the 20-week moving average.
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SLV Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
The current weekly candle is a massive bearish reversal (-18.80% drop) on extreme volume (1.55B), indicating a 'blow-off top' and immediate heavy selling pressure. RSI has hooked sharply downward from extreme overbought levels.
Long-term Sentiment (weeks to months): Bullish
Despite the sharp correction, price remains significantly above the rising 50-week (41.65) and 200-week (27.49) SMAs. The price structure maintains a breakout from a multi-year consolidation base formed between 2021 and 2024.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-01-31T23:42:33.633Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $55.50 | $55.00 - $56.00 | Strong | Confluence with the 20-week SMA (Bollinger Band midline at 55.99), acting as the first mean reversion target. |
| $41.00 | $40.00 - $42.00 | Strong | Aligns with the rising 50-week SMA (41.65) and prior consolidation zones before the vertical ascent. |
| $28.00 | $26.00 - $30.00 | Strong | Major structural support zone representing the top of the multi-year base breakout level. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $99.50 | $99.00 - $100.00 | Weak | Psychological round number and approximate opening price of the breakdown candle. |
| $109.50 | $109.00 - $110.00 | Strong | The all-time high established by the recent parabolic peak. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Blow-off Top | Bearish | $56.00 | Vertical parabolic price rise followed by a high-volume, massive bearish rejection candle. |
| Strong | Mean Reversion | Bearish | $55.99 | Price extended significantly beyond the upper Bollinger Band (peak ~110 vs band ~86) and is now snapping back toward the mean. |
| Strong | Multi-Year Base Breakout | Bullish | N/A | A long-term breakout from the 20-28 range that initiated the current trend. |
Frequently Asked Questions about SLV
What is the current sentiment for SLV?
The short-term sentiment for SLV is currently Bearish because The current weekly candle is a massive bearish reversal (-18.80% drop) on extreme volume (1.55B), indicating a 'blow-off top' and immediate heavy selling pressure. RSI has hooked sharply downward from extreme overbought levels.. The long-term trend is classified as Bullish.
What are the key support levels for SLV?
StockDips.AI has identified key support levels for SLV at $55.50 and $41.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is SLV in a significant dip or a Value Dip right now?
SLV has a Value Score of 46/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
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