In today’s Lab Note #17, we highlighted the 161.8% Fibonacci extension as the next upside target and if you’re reading this Lab Note… you already know what that means.
Now the chart is opening the door to the next logical extensions, and when multiple projection methods start clustering around the same zones, smart money pays attention.
Daily Chart - What Just Happened
Silver exploded higher again, tagging and breaking above the 161.8% Fibonacci extension (around 5880). Momentum indicators remain stretched, yes, but there’s no bearish reversal pattern, and the shallow intraday pullbacks signal buyers are still willing to step in aggressively.
What Comes Next (And Why These Levels Matter)
Here’s where it gets interesting: the target levels ahead aren’t random - they’re built from: the breakout structures, Fibonacci extensions, channel projections… all pointing to a tight cluster of upside zones. That kind of multi‑method convergence is usually meaningful.
Key upside zones if silver keeps pushing:
- 6000 -> the next psychologically very important barrier
- around 6100 -> the 173.2% Fibonacci extension
- around 6260 -> full measured move from the breakout above the green wedge
- around 6355 -> the 200% Fibonacci extension
- 6500 -> the next important round number + full measured move from the breakout above the purple rising channel
These are not “targets to trade blindly.” They’re map points - areas where the market tends to reveal what comes next: continuation… or exhaustion.
My takeaway: Friday’s breakout gave us the first clue. Today’s rally confirmed it. And now the chart shows us exactly where the next chapters may unfold. That’s why these extension zones matter: they’re where buyers will need to prove they can sustain control.
Another dot connected. Another trail unfolding. See you on the next chart.
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Anna
Trading Lab Founder