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The Trump administration announced a proposed joint settlement with Missouri that would soon force millions of student loan borrowers into repayment.

Silver is on the run again with a gain of $1.50 or 2.57% and $59.64. The high price reached $59.74 so far.

• Price is testing a key topside trendline, connecting the October 5 high to this month’s highs.

• Next upside target: the 161.8% Fibonacci extension at $59.95.

• Break above $59.95 shifts focus to the 200% extension, with resistance up at $63.37.

What are the technicals telling traders? A look at the daily chart.

From a technical perspective, the daily chart shows the price pressing up against a key topside trendline drawn from the October 5 swing high through the highs reached earlier this month (see daily chart below). This trendline has acted as an important barrier, and today’s test will help determine whether buyers have the momentum to shift the broader structure toward a more aggressive upside breakout.

Just above that trendline sits the 161.8% Fibonacci extension of the most recent corrective pullback from October, a level that comes in near $59.95. This zone represents the next meaningful hurdle for buyers and a classic area where traders often reassess risk and momentum. Should the market break through and hold above this extension, it opens the door to the next technical target: the 200% Fibonacci extension, which comes in significantly higher at $63.37.

In short, the market is now testing a major resistance confluence—a trendline plus a key Fibonacci extension. A sustained push above this zone would signal that buyers are not just in control but accelerating, setting the stage for a move toward the higher $63s. Until then, the topside remains a battleground where momentum will either stall or ignite the next leg higher.

Hourly Chart Analysis: Defining the Risks

Looking at the hourly chart, the price action over the past week has repeatedly moved above and below the rising 100-hour moving average (the blue line). That pattern shows a market that has been consolidating but still respecting the broader upward bias. What stands out, however, is the behavior relative to the 200-hour moving average. Despite several dips, the price has not approached or tested that longer-term support level at all. When sellers can’t even push the market down to a key trend-defining moving average, it tells you something: buyers remain in control.

Conversely, it would take a move back below those moving averages to give the sellers more control.

The inability of sellers to generate deeper retracements keeps the 200-hour MA comfortably below the market and reinforces the idea that the downside has been limited. As a result, buyers have been able to maintain pressure and build toward a renewed push higher. Their willingness to hold the line above deeper support, combined with the rising slope of both moving averages, suggests momentum is shifting more firmly in their favor. With the broader trend structure intact, buyers are now making another run to the upside, and until the 200-hour MA is challenged, they retain a clear tactical advantage.

UPDATE: SIlver reaches to $59.998 as the $60 barrier is tested and the 161.80% fib extension is tested /broken at $59.95.

This article was written by Greg Michalowski at investinglive.com.

Bank of England Deputy Governor for Markets and Banking Dave Ramsden, Deputy Governor for monetary policy Clare Lombardelli, and MPC member Catherine Mann gave comments to the Treasury Select Committee on Tuesday about the November monetary policy report.

Gold (XAU/USD) holds its footing on Tuesday, extending the sideways pattern that has dominated trade for a little over a week as investors stay on the sidelines ahead of the Federal Reserve’s (Fed) interest rate decision on Wednesday.

West Texas Intermediate (WTI) US Oil trades around $58.50 on Tuesday at the time of writing, down 0.40% on the day. The Crude Oil market is declining after the announcement of restored production at Iraq’s West Qurna 2 field, a development that increases short-term supply and pressures Oil prices.

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