Spot Silver Short-Term Bias: Slightly Strong, Likely to Consolidate at High Levels.

January 29, 2026, Noon Analysis of Spot Silver

Last night, the overall trend of spot silver was quite different from gold. It opened higher, then pulled back, currently in a high-level consolidation pattern;

Let's first look at the news: The Federal Reserve kept interest rates unchanged, with expectations of rate cuts still present. The weakening dollar is positive for silver; demand for photovoltaics and new energy has surged, coupled with tighter Chinese export controls, leading to a shortage of silver supply. Additionally, geopolitical safe-haven demand has driven silver prices up significantly, but the rapid rise may lead to profit-taking pressure.

Now, let's analyze the technical aspect: The daily chart shows a bullish trend, with the current price near $118, resistance at $120, support at $115. The market is overbought in the short term, making a correction likely, but deep declines are unlikely.

Trading Suggestions: Do not chase the high! Wait for a pullback to around $115 to buy long positions, with a stop-loss below $113; target near $117.5–$119.5. If it breaks through $120 directly, go light on long positions for quick entry and exit. Never hold heavy positions; take profits when the trend is good, and prioritize risk control.

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies!$XAUT ‌
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