Silver Holds Firm as Technical Support Spurs Overnight Rebound

Silver traded near $36.50 per ounce on June 10, 2025, after a volatile 24 hours that tested the market’s resolve. The previous day, the price reached $36.90 before retreating to $36.30, marking the sharpest pullback in a week.

This move, however, found solid support at the 9-day and 20-day moving averages, as shown on the 4-hours chart. The support held, and buyers stepped in, driving a steady rebound through the night.

Market data confirm that this retracement acted as a necessary pause after a relentless rally. The four-hour chart shows the price bouncing off short-term moving averages, with the 9-period and 20-period lines preventing a deeper correction.

Bollinger Bands narrowed slightly during the pullback, reflecting a brief dip in volatility before the rebound. The daily chart reinforces this view, with the price staying well above the 50-day and 200-day moving averages, maintaining the broader uptrend.

Volume analysis reveals that selling pressure during the retracement was moderate, and buyers quickly absorbed available supply. The Relative Strength Index (RSI) hovered above 70, indicating overbought conditions but not triggering a sustained reversal.

The Moving Average Convergence Divergence (MACD) on both timeframes continues to show a positive trend, with the MACD line above the signal line and no bearish cross in sight.

Fundamental factors remain unchanged. The market faces a persistent supply deficit, with global mine production lagging and industrial demand, especially from the solar and electronics sectors, at record highs.

ETF inflows, particularly into the world’s largest silver fund, remain strong, underscoring investor confidence in the metal’s outlook. Macroeconomic signals also support the trend.

The US dollar weakened further over the past day, making silver more attractive to international buyers. Recent economic data point to sluggish growth in major economies, reinforcing silver’s appeal as both an industrial and safe-haven asset.

The technical picture shows that silver’s rally remains intact. The brief pullback to $36.30 served as a necessary exhale after a period of relentless gains, with the market using the 9-day and 20-day moving averages as a springboard.

Support at these levels has proven resilient, and the price now targets a retest of the $37 mark. Should momentum persist, the next upside targets lie beyond recent highs.

Any further retracement would likely find support near $35.95 and $34.80, as indicated by the moving averages and prior consolidation zones.

In summary, silver’s recent action reflects a healthy market dynamic: after a sharp rally, a controlled retracement found support at key technical levels, and buyers quickly reasserted control.

The interplay of tight supply, robust demand, and positive technical signals continues to define the market’s direction.

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