$XAGUSD 69.016698Silver managed to pull off a rather untimely breakout above the key 80.8 resistance on Monday.

I wrote before Tuesday's market open: "Silver has broken above the key 81 resistance level. It is important to note that gold has not confirmed silver's breakout. Gold remains range-bound between 4660 and 4770, as outlined in the previous tactical positioning. Additionally, oil is back above 100, as I predicted. I continue to expect a retest of the recent highs around 115-120 for Brent and WTI (West Texas Intermediate crude). Higher oil should add further upward pressure on yields, which in turn creates downside pressure for both gold and silver. So while silver's breakout is constructive, the macro backdrop is not yet fully supportive. Nevertheless, for bulls, the textbook entry is to wait for pullbacks toward support, with stops placed just below the support area."

Silver then surged toward 90 shortly after, confirming my tactical precision, before reversing after testing 90 on the logic I have repeatedly emphasized: higher oil prices -> higher yields -> sustained pressure on silver, and vice versa.

For bulls, a breach above 80.8 opens the door for a test of 88-90. For bears, wait for a confirmed breach below the major trendline around 72.