Silver has rallied hard but stalled just under the $67.13–$67.50 resistance band, with bullish momentum indicators now bumping against overbought warnings. Traders are watching whether the metal clears that ceiling or slips back toward support near $65.50.
Silver slipped to $67.01 on the 5-hour chart, testing the resistance zone that has capped its recent rally. The next move hinges on whether buyers can push through $67.13–$67.50, or whether the metal reverses back toward support.
Rally runs into a wall
Silver's advance has carried it above its 200-period moving average at $60.54, a level technicians read as confirmation that buyers hold long-term control. But the push has landed price right at the 50% Fibonacci retracement at $67.13, the line separating the uptrend from deeper recovery territory.
As of the latest forming candle, silver trades at $67.01, just below both that resistance zone and its own recent high. The setup leaves bulls needing a clean break to extend the move.
Bullish signals meet overbought risk
Price sits above the Ichimoku Cloud at $64.32–$64.94, and a bullish MACD crossover still favors buyers. The RSI has climbed to 62.85, nearing overbought territory, and the volume profile shows little historic trading above $67.50 — a sign that any further advance could run into thin support. An 80%-complete rounding bottom pattern points to further upside, but only if resistance gives way soon.
Trade setups split on entry point
Two scenarios are in focus. An aggressive breakout entry at $67.55, on a 5-hour close above resistance, targets $69.98, $72.00 and $75.00 with a stop at $63.90, for risk/reward ratios of 2.80, 4.06 and 5.94. A more conservative entry near $65.50, on a pullback to the 20-period simple moving average, aims at the same targets with risk/reward ratios of 2.46, 3.31 and 4.39.
Where not to trade
The $65.50–$67.15 range is marked as a no-trade zone, defined by choppy price action that has produced mixed signals. A close below $63.94 would break the uptrend thesis, while a close above $67.50 would confirm an upside breakout.
Source: Commodities & Futures News (investing.com)
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