Hello everyone, after a sharp decline from the $75 area to below $68, silver is showing signs of stabilization around $68.3 per ounce. However, on the H4 timeframe, the broader trend remains unchanged as price continues to trade below both the EMA34 and EMA89, while the lower-high and lower-low structure remains intact.
What stands out is that selling pressure has started to slow following last week's aggressive sell-off. Rather than extending lower immediately, price has entered a narrow consolidation range between $67 and $68. Such behavior often reflects a market reassessing supply and demand after a significant directional move.
From a fundamental perspective, silver is facing similar headwinds to gold. The US Dollar remains supported by stronger-than-expected US employment data, while expectations that the Federal Reserve may keep interest rates elevated for longer continue to weigh on precious metals. At the same time, concerns over slowing global economic growth are adding pressure to silver due to its important role in industrial demand.
So what could happen next?
Bullish Scenario: If the $67–68 support zone continues to hold, silver could extend its recovery toward $70, followed by the $71.5–72 region where the EMA34 is currently positioned.
Bearish Scenario: If sellers push price below $67, downside momentum may accelerate toward $65, with a deeper move into the $62–63 area becoming possible.
For now, the $67–68 region remains the key battleground between buyers and sellers. As long as silver remains below $71.5, the short-term downtrend cannot be considered over. The market's reaction around current support will likely determine whether this is the beginning of a new recovery phase or merely a pause before another leg lower.
What stands out is that selling pressure has started to slow following last week's aggressive sell-off. Rather than extending lower immediately, price has entered a narrow consolidation range between $67 and $68. Such behavior often reflects a market reassessing supply and demand after a significant directional move.
From a fundamental perspective, silver is facing similar headwinds to gold. The US Dollar remains supported by stronger-than-expected US employment data, while expectations that the Federal Reserve may keep interest rates elevated for longer continue to weigh on precious metals. At the same time, concerns over slowing global economic growth are adding pressure to silver due to its important role in industrial demand.
So what could happen next?
Bullish Scenario: If the $67–68 support zone continues to hold, silver could extend its recovery toward $70, followed by the $71.5–72 region where the EMA34 is currently positioned.
Bearish Scenario: If sellers push price below $67, downside momentum may accelerate toward $65, with a deeper move into the $62–63 area becoming possible.
For now, the $67–68 region remains the key battleground between buyers and sellers. As long as silver remains below $71.5, the short-term downtrend cannot be considered over. The market's reaction around current support will likely determine whether this is the beginning of a new recovery phase or merely a pause before another leg lower.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.