Silver Volatility Surges as Global Uncertainty Shakes Metal Markets

Silver made a very sharp decline and dropped more than 40% from the all time highs back in January. This is something we were concerned about, as a higher degree retracement was always somehow expected after the massive move of more than 300% from the April 2025 swing lows. Looking at the smaller 4 hour time frame, first decline clearly looks impulsive, which supports the idea that this whole move down from ATH was not finished yet, and that big wave four is underway. 

But notice that with current rebound back to 78 we have overlap with previous wave A swing low, which suggests that we have a deal with a complex pattern; it can be wave B running triangle, with current price now headed to the upper side of a range, maybe even with room for 84-88 area. So seems like price can stay trapped in this range for a big longer, and it can be too soon to confirm end of a correction, but at least in the short-term bulls can extend further.