Silver is holding above $64.90 on its five-hour chart but remains capped below resistance near $67.30. A close below $63.20 would confirm a breakdown, while bulls need a close above $67.50 to flip the trend.
Silver's latest five-hour candle has the metal trading at $64.90, just above its 200-period moving average at $63.73. It also sits above the 50% Fibonacci retracement at $63.20. The price stays stuck below the Ichimoku Cloud and SuperTrend line at $67.29, which keeps the broader trend bearish.
Hammer candles and long lower wicks above $64.00 show buyers stepping in, but bullish signals remain weak while price holds below $66.00. The Relative Strength Index reads 41.64, recovering from oversold territory, though the MACD stays bearish.
The Ichimoku Cloud spans $66.08 to $67.28. A completed head-and-shoulders top at $71.40 still weighs on the metal. A five-hour close below $63.20 would confirm a structural breakdown, with next stops at $61.30 or $58.00. Between $64.00 and $66.00 sits a no-trade chop zone, where whipsaw risk makes low-conviction trades dangerous.
Bulls, meanwhile, need a five-hour close above $67.50 to invalidate the bearish case and restore upward momentum. Average true range sits at 1.09, or 1.68%, leaving volatility elevated enough that stop-loss discipline remains essential on either side of the trade.
Source: Investing.com
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