Silver caught a bid over the last hour and managed to recover a bulk of losses made earlier today. The move was driven primarily by weakening of the US dollar but there are no specific news behind the USD move. While USD was the best performing major currency this morning, putting pressure on precious metals prices, the greenback started to lose its shine in the early afternoon. It is still among G10 top performers today but weakening allowed precious metals to catch a breath.
Taking a look at SILVER chart at 30-minute interval, we can see that price of this precious metal dropped to the $24.70 support zone this morning, where the pullback was halted. A strong recovery move over the past hour has push the price back above $25 per ounce with SILVER testing $25.05 resistance zone at press time. However, this zone may offer some strong short-term resistance as it is not only marked with previous price reactions and 50-period moving average (green line) but also by the upper limit of a local market geometry. This geometry has been respected throughout the downward impulse launched on April 14, 2023 and unless we see a break above, SILVER may be set for a pullback towards recent lows in the $24.70 area and possibly even lower - painting a new low in a current impulse.
Source: xStation5
Chart of the day: GOLD loses all its steam amid war and policy uncertainty 🟡 (09.04.2026)
Morning wrap: Iran says US violated ceasefire (09.04.2026)
Daily Summary - Crude oil below $100 amid ceasefire
BREAKING: Another build in oil inventories, decline in fuel stocks
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
