Key Technical Levels and Market Correlation
If we rally from here, then you have the 200-day EMA at $67.75 as a little bit of a barrier. I am watching for a bounce; it would make a certain amount of sense here, but we’ll just have to see how risk appetite goes. If we break through $60, though, we’re probably heading to $50 at that point. The $50 level being hit would be a big deal and could cause panic from the bulls at that point.
The correlation between lower interest rates and silver rising seems to be breaking down a bit, so do keep that in mind. Ultimately, I think you have to look at this as a market that is doing everything it can to find a bottom. The question at this point in time is whether or not it can. I suspect that this is going to come down to whether or not things deteriorate even further in the Middle East, and any reaction in the interest rate markets.
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Silver traded at $68.91 per ounce on Thursday, June 18, 2026, up 1.5% on the day and back above the 200 EMA it had broken...
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