Silver Price Stuck in Channel Ahead of Key Decision Zone

Silver's price has been consolidating in a narrow channel on the XAGUSD chart, with a breakout above recent lows being a possible scenario.

The key decision zone for this move is between $65 and $67.58, as marked on the chart.

A closer look at the 30-minute time frame shows that buyers responded to the removal of liquidity by price sweeping below an earlier demand area.

This has led to a rebound in silver's price, but it remains below the earlier upper supply area.

Intraday volatility data indicates that silver can post its greatest price swings around significant global markets' open, particularly during the US session.