iShares Silver Trust (SLV)
Published 2026-03-16 • by greyrabbitfinance
Thesis Summary
Silver is undergoing a technical ABC correction within a broader bull trend. Anticipate a potential 'Wyckoff spring' accumulation in the $60-$65 range before the next major bullish impulse.
Quantitative Overlay
Detailed Deep Dive
Silver/USD (Daily Chart)
* Trend:Primary Uptrend Intact … Corrective Spring Structure Developing
* Major Resistance:121.64 (Wave 5 High)
* Key Structural Support:64.10
* Current Pivot Zone:87.19
* Timing Watch: Henka-Bi – March 17
Trend
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Wave (5) remains complete at 121.64, and silver continues to track a higher-degree ABC corrective structure following the powerful late-2025 impulse.
The rebound from the February lows has now completed Wave (B) beneath the retracement resistance zone.
Price is now transitioning into Wave (C).
However, the developing structure increasingly resembles a Wyckoff reaccumulation pattern rather than a simple bearish continuation.
In this interpretation:
Wave (A) created the automatic reaction after the blow-off top.
Wave (B) represents the range-building phase.
Wave (C) may act as a spring — a final shakeout before the next major bull leg.
The macro uptrend remains intact as long as 64.10 holds structurally.
Interpretation
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The higher-degree corrective structure remains intact:
Wave (A): 121.64 → ~70
Wave (B): ~70 → ~92–95
Wave (C): now developing
Your chart marks the key fib projections for the potential Wave (C) leg:
Wave (C) = 0.618 → 60.83
Wave (C) = 1.000 → 38.85
However, the 60–65 zone aligns closely with another technical concept:
A Wyckoff Spring.
This is a temporary break beneath support designed to:
• Trigger panic selling
• Trap shorts
• Allow large players to accumulate liquidity
before launching the next major markup phase.