Silver traders take the price below the 200 day MA for the 1st time since April and failed
Silver came under heavy pressure since breaking below its 100 day moving average back on May 15. On Friday, the price fell sharply on the back of the dollar rising. Today the momentum continued with the price falling to its lowest level since March with the price reaching $66.17. In the process, the metal briefly traded below its 200-day moving average for the first time since April 2025. That break should have opened the door for sellers to extend the decline toward the 61.8% retracement of the rally from the April 2025 low, which comes in at $63.98.
Instead, the downside momentum faded.
After slipping below the 200-day moving average, silver reversed higher and has since reclaimed that key technical level. From a technical perspective, the sellers had their opportunity to seize control and push the market lower, but they were unable to sustain the break. When a market fails to extend after a significant technical violation, it often sends an important message. In this case, the inability to remain below the 200-day moving average increases the potential for a corrective rebound. The price is currently up $0.48 were 0.70% at $68.36
The next key level to watch on the topside is $70.87. A move above that level would strengthen the bullish case and shift the focus toward the 50% retracement of the rally from the April 2025 low at $74.99. Beyond that, the 100-day moving average at $80.59 becomes the next major upside target.
It was the break below the 100-day moving average on May 15 that helped trigger the latest leg lower and ultimately led the price down to the 200-day moving average tested today. If buyers can build on today's recovery and maintain upward momentum, a larger corrective rally could develop.
On the other hand, if silver turns lower and falls back below the 200-day moving average, sellers would regain control. In that scenario, the next downside targets would be the 61.8% retracement at $63.98, followed by the March 23, 2026 low at $60.73.
One additional point of note: silver closed 2025 at $71.60, and after the sharp declines of recent weeks, the metal is now trading below that level and is negative on the year. That marks a dramatic reversal from the strong start to 2026, when prices surged to a record high of $121.64 on January 29 before the current correction took hold.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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