Silver Price Analysis – Silver Eyes Fresh Lows as US Rates Climb

Silver Technical Analysis

The silver market continues to see a lot of negativity as we are trying to break to a fresh new low as the interest rates in America continue to climb. Higher interest rates end up being pretty negative for silver a lot of times, and we are seeing that play out in the charts at this juncture. I do not think this is a market that is going to suddenly be easier to deal with, and the volatility will continue to be a major issue. Ultimately, this is a potential situation where, if the breakdown occurs, it will be a simple continuation of the overall negativity that we have seen for the last couple of months. This could be a sign that something bigger is afoot at the moment.

Consolidation Ranges and EMA Intersections

A rally at this point in time could see the $60 level as a bit of a magnet for price. It’s a large, round, psychologically significant figure, but it’s also worth noting that we have sliced through it multiple times, and therefore, we are at the bottom of what could look like a short-term consolidation range. This could be changing soon, though, if the recent move is starting to pick away at a support level.

We’ll just have to take that into consideration. Ultimately, this is not a very positive-looking market, and now we are starting to see the 50-day EMA perhaps try to cross below the 200-day EMA, kicking off the so-called death cross. This is a longer-term negative technical signal, as this is a situation that could attract selling.

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