Commodities
Silver Consolidates Above 50-Day SMA, Eyes Next Move
Silver prices have been consolidating above their 50-day simple moving average (SMA) since mid-June 2025, a trend that suggests the metal's medium-term momentum is still intact.
The consolidation phase has caused silver to trade in a narrow range, as traders take profits after a recent rally. However, the ability of the price to hold above the 50-day SMA indicates that the broader uptrend remains strong.
The current support level for silver is around $30.90 per ounce, with immediate resistance at $32.00 and a more significant level at the recent high of $32.80.