Silver, Technical Analysis – H1

Conditions have formed for the development of a local bottom and a potential upside reversal. For this to materialize, bulls need to achieve a firm consolidation above the current consolidation range at $65.00. That said, it cannot be ruled out that this consolidation phase may extend beyond a single trading session.

Key Levels:

□ $65.00 — Key breakout / resistance level  

□ $69.00–$70.00 — Medium-term upside target zone  

□ $63.50–$64.00 — Immediate support  

□ $62.00 — Deeper support on extension  

Primary Scenario: 

Breakout above $65.00 followed by an advance toward the $69.00–$70.00 zone.

Alternative Scenario:

Continued consolidation below the $65.00 level.

Analyst Commentary:

Long positions in silver can be considered on local downward moves within the developing range.