Silver technical analysis

Source: Dukascopy Bank SA
Silver has just exited a parabolic uptrend, peaking near 120.60, and is now in a sharp corrective phase. Price action shows a long-wick bearish rejection, with a rapid drop to around 100.46. The 100.00 level is a critical psychological pivot; a sustained break below it could trigger a move toward historical support zones at 93.32, 88.33, and 82.45.

The 60-period SMA has been breached for the first time in this rally, suggesting bullish momentum has stalled and the market is shifting into a corrective or consolidating mode. The RSI confirms this, falling from overbought territory near 70–80 down to 45.24, indicating that selling pressure is strong but the market is not yet oversold.





Immediate resistance is at the SMA 60 near 102.45, which now acts as a key level for any bullish reversal.
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