Silver has cooled to $66.05 on the five-hour chart, stalling below $67.00 resistance after a sharp rally. The metal is now boxed between that ceiling and support at $64.50, with momentum indicators turning mixed even as the longer-term trend stays bullish.
Silver has pulled back to $66.05 on the five-hour chart, pausing just under a stubborn $67.00 resistance zone after a strong rally. Major support sits at $64.50, leaving the metal boxed between the two levels while traders wait for the next breakout or breakdown.
Momentum looks mixed even though the broader trend stays constructive above the long-term moving average. Silver stays bullish above the 200-period simple moving average at $60.37, but the MACD has slipped bearish while the RSI has cooled to 56.8, a sign the recent buying push may be fading.
That $64.50 zone acts as the market's line in the sand, where the SuperTrend indicator, the 38.2% Fibonacci retracement, and the 50-period moving average all converge, catching every recent pullback. $67.00 resistance has held just as firm, confirmed by repeated upper wicks that mark failed breakout attempts.
A decisive breakout would settle the standoff. Bulls are eyeing either a dip back into $64.50 or a five-hour close above $67.20, with upside targets at $67.00, $69.98 and $72.00 against a $63.00 stop. Bears, in turn, are looking to fade near $66.50 or short a break below $63.50, aiming for $64.50, $60.37 and $58.00 with a stop at $67.50.
Price now sits at $66.05, inside a no-trade chop zone between $64.50 and $66.50, with volume clustering between $65.00 and $66.00, so trend traders are likely to see further whipsaws until the range resolves.
Source: Investing.com
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