Silver Pulls Back After Breaking Above 200-Period Average

Silver climbed sharply to around $64.74 on Tuesday after breaking more than 6% above its 200-period moving average at $60.64, confirming a stronger bullish trend. However, the rally stalled after a rejection near $66.67, while RSI cooled to 62.72 from overbought territory.

Momentum remains constructive, with SuperTrend support near $62.96, but fading volume suggests the breakout is losing some immediate strength. A sustained move above $66.67 would reinforce the bullish structure, while a break below $62.96 could increase the risk of a deeper correction toward the $60.65 area.

Trader outlook: Silver remains in a bullish trend but is entering a consolidation phase after its sharp advance. Traders may watch $62.96 and $66.67 as key levels, with volume and momentum indicators helping determine whether the next move is a continuation or a broader pullback.