Silver Technical Analysis Today
Summary
Silver trades at 61.55, up 1.54% on the day, but remains technically fragile. Price is consolidating just below the previous day's high of 61.75 and sits within a dense support cluster between 60.999 and 61.271. The overall bias is bearish with low confidence, keeping the burden of proof on bulls to demonstrate sustained follow-through above current levels.
Key levels — confluence zones
Zones where several technical levels cluster together (moving averages, SuperTrend, Fibonacci retracements, previous-day range, swing points). More converging levels mean a more relevant zone.
| Resistance | Levels | Strength |
|---|---|---|
| 63.483 | SMA200 | ● |
| Support | Levels | Strength |
|---|---|---|
| 60.999–61.271 | Fib 61.8% + Fib 50.0% + SMA50 + SMA20 + Fib 38.2% | ●●●● |
| 60.560–60.690 | Previous-day low + Swing low + Swing low + Swing low | ●●●● |
Trend
Both SMA20 (61.172) and SMA50 (61.147) sit just beneath price, offering near-term dynamic support, but the SMA200 at 63.483 towers above as major resistance. SuperTrend is currently pointing down at 61.882, capping upside on the hourly. The 4-hour Ichimoku context confirms a below-cloud regime with a bear score of 4 and a bull score of 0, reinforcing the prevailing bearish structure.
| Indicator | Value | Reading |
|---|---|---|
| SMA 20 | 61.172 | price above |
| SMA 50 | 61.147 | price above |
| SMA 200 | 63.483 | price below |
| SuperTrend (10,3) | 61.882 | bearish |
| Ichimoku 4H | below the cloud | 0/4 bullish · 4/4 bearish |
Momentum
RSI stands at 51.1, neutral territory offering no directional edge. MACD at 0.0456 has crossed above its signal line of 0.023, a modest positive crossover, but the reading remains marginal. Volume ratio of 0.31 signals well-below-average participation, cautioning against reading too much into the intraday bounce.
| Indicator | Value |
|---|---|
| RSI (14) | 51.1 |
| MACD / signal | 0.0456 / 0.023 |
| Volume vs 40-bar average | ×0.31 |
Structure — swing, Fibonacci and Elliott Wave
The active swing runs from 60.56 to 61.71 to the upside. Elliott wave positioning identifies this as Wave A, a first corrective leg with 51% probability, invalidated above 65.48. Fibonacci retracement levels cluster tightly: 38.2% at 61.271, 50.0% at 61.135, and 61.8% at 60.999, forming a high-confluence support zone that price is currently testing from above.
| Element | Level |
|---|---|
| Last swing | 60.560 → 61.710 (up) |
| Fibonacci 38.2% | 61.271 |
| Fibonacci 50.0% | 61.135 |
| Fibonacci 61.8% | 60.999 |
| Elliott Wave | Wave 🅐 — First Corrective Leg |
| Elliott invalidation | 65.480 |
Trade scenarios
Educational scenarios built from the confluence zones. Entry, stop and target are calculated by our engine; risk/reward is computed from the published numbers, and scenarios with an unfavourable ratio are flagged rather than presented as opportunities.
| Scenario | Entry | Stop | Target | R:R | Quality |
|---|---|---|---|---|---|
| Bullish aggressive (pullback) | 61.271 | 60.791 | 63.483 | 4.61:1 | good |
| Bearish aggressive (rejection) | 63.483 | 63.691 | 61.271 | 10.63:1 | good |
| Bullish conservative (breakout) | 63.587 | 63.274 | 64.213 | 2.00:1 | good |
| Bearish conservative (breakdown) | 60.895 | 61.479 | 60.690 | 0.35:1 | unfavourable |
Outlook and confirmation
A hold above 60.999 keeps the long pullback scenario viable, targeting the SMA200 at 63.483 with an R/R of 4.61. A rejection from 63.483 opens the short rejection setup targeting 61.271, offering an R/R of 10.63. The bearish trigger activates on a close below 60.999; the bullish trigger requires a breakout above 63.483. The short breakdown below 60.895 carries poor R/R at 0.35 and warrants caution.
FAQ
What is the Silver trend today?
On the 1-hour chart our engine reads a bearish bias with low confidence (score -2/7), based on moving averages, MACD, RSI, SuperTrend and the 4-hour Ichimoku context. Silver trades at 61.550.
What are the key support levels for Silver?
The nearest support zones are 60.999–61.271, 60.560–60.690.
What are the key resistance levels for Silver?
The nearest resistance zones are 63.483.
What would confirm a move in Silver?
An hourly close above 63.483 would confirm the bullish case. An hourly close below 60.999 would confirm the bearish case.
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