Peter Brandt Maps Silver's Falling Wedge Floor Near $48

Veteran trader Peter Brandt has told silver bulls that every version of his chart now points to a falling wedge, with the final low forming slightly below the metal's 50-year support line.

Brandt laid out the call in a November 4 chart post, drawing the same market two ways, one of them a weekly line chart. In his reading, the descending formation bottoms out near $48, marginally beneath the long-term trendline marked on his chart as silver's half-century support.

Brandt, who has traded commodity markets since the 1970s, is widely known for his adherence to classical charting principles — trendlines, wedges, triangles and other long-established formations — rather than indicator-based models.

In classical technical analysis, a falling wedge is bounded by two converging, downward-sloping trendlines. Textbook treatments describe it as a pattern that develops as selling pressure gradually loses momentum, with the narrowing range typically resolving once the descent exhausts itself. Under the classical framework, the pattern is regarded as resolved or invalidated only once price breaks decisively through one of its boundaries, which is why chartists tracking such a call watch the wedge lines themselves.

Silver's five-decade price record provides the backdrop for a support line of that length. The metal spiked to roughly $50 in January 1980 amid the Hunt brothers' attempt to corner the market, and climbed back to nearly the same level in April 2011 before an extended decline. Chartists have long anchored multi-decade trendlines to that history. Measured against that record, Brandt's projected floor near $48 sits just below the roughly $50 marks where silver's two previous major advances peaked.

COINOTAG reported the chart call on November 5, 2026.

This content was first published on COINOTAG: https://en.coinotag.com/peter-brandt-silver-falling-wedge-floor-48