Silver Pulls Back From $66.98 as Momentum Fades, but Uptrend Holds

Silver prices are pulling back after failing to sustain a move above $66.98, but the broader bullish structure remains intact as traders watch whether key support levels can hold.

Silver’s latest five-hour candle closed at $64.82, leaving the metal below its recent high. The immediate battleground is around $64.10-$66.50, where fading momentum could keep prices volatile.

Technical signals have weakened. The MACD turned negative at -0.19, while the RSI fell to 55.81, pointing to softer short-term momentum without entering oversold territory. However, silver remains above its 200-period SMA at $60.43, while SuperTrend support sits at $63.56 and price remains above the Ichimoku Cloud.

The recent bearish engulfing pattern near $66.98 adds to the risk of a deeper pullback, particularly if silver breaks below $63.56. In that case, $62.40 becomes an important downside level, with the $60.99-$59.58 area potentially coming into focus.

On the upside, a sustained recovery above $66.98 would challenge the current reversal signal and reopen the path toward $70.23.

For Southeast Asian traders, the key question is whether this is a normal correction within a larger uptrend or the start of a broader reversal. Until silver clears $66.98 or loses $63.56, the market remains caught between bullish trend support and weakening short-term momentum.