Brent crude oil remains under limited and cautious gains during recent intraday trading, recovering part of its previous losses. The price has also eased its oversold conditions on relative strength indicators, which have now moved into overbought territory compared with price action. This suggests the beginning of a negative divergence, adding further downside pressure, especially with the indicators starting to show a bearish crossover.
Meanwhile, the price continues to face negative pressure from trading below the EMA50, while the short-term bearish trend remains dominant, limiting the chances of a sustained recovery.
Platinum price formed several negative waves yesterday, benefiting from the alignment of the main indicators in providing negative momentum. As a result, the price has now reached the first target at $1,655.00, which has recently acted as an obstacle to further bearish movement.
The price may be forced to move sideways for a period in the short term. However, the continued presence of negative factors encourages expectations of a break below the current barrier, which would strengthen the chances of reaching additional bearish targets starting at $1,605.00 and then $1,565.00.
The expected trading range for today is between $1,605.00 and $1,745.00
2026.06.19 2026.06.19 WTI Crude Oil: Elliott Wave Analysis and Forecast for 19.06.26–26.06.26
Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/
The article covers the following subjects:
Major Takeaways
Main scenario: Consider short positions from corrections below the level of 80.45 with a target of 70.00–65.00. A sell signal: the price holds below 80.45. Stop Loss: above 82.00, Take Profit: 70.00–65.00.
Alternative scenario: Breakout and consolidation above the level of 80.45 will allow the asset to continue rising to the levels of 91.80–105.17. A buy signal: the level of 80.45 is broken to the upside. Stop Loss: below 79.00, Take Profit: 91.80–105.17.
Main Scenario
Consider short positions from corrections below the level of 80.45 with a target of 70.00–65.00.
Alternative Scenario
Breakout and consolidation above the level of 80.45 will allow the asset to continue rising to the levels of 91.80–105.17.
Analysis
A descending correction appears to have formed as the second wave of larger degree (2) on the weekly chart, with wave C of (2) completed as its part. On the daily time frame, an ascending third wave (3) is developing. Within it, the first wave of smaller degree 1 of (3) has formed, and a downward correction is unfolding as the second wave 2 of (3). Wave c of 2 is presumably developing on the H4 chart; within it, wave (v) of c is unfolding. If the presumption is correct, WTI will continue to decline to the levels of 70.00–65.00. The level of 80.45 is critical in this scenario as a breakout above it will enable the asset to continue rising to the levels of 91.80–105.17.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of USCRUDE in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
The Pound to Euro (GBP/EUR) exchange rate traded modestly higher on Friday after the Bank of England left interest rates unchanged, while markets also absorbed the fallout from Andy Burnham’s landslide Makerfield by-election victory.
At the time of writing, GBP/EUR was trading around €1.1542, up 0.2% on the day as investors weighed the Bank’s policy outlook against the prospect of renewed political uncertainty following Burnham’s return to Westminster. Burnham’s victory has intensified speculation over a potential challenge to Prime Minister Keir Starmer’s leadership.
Latest — Exchange Rates: Pound to Euro (GBP/EUR): 1.15419 (+0.18%) Pound to Dollar (GBP/USD): 1.31978 (-0.03%) Euro to Dollar (EUR/USD): 1.14347 (-0.21%)
DAILY RECAP:
The Pound (GBP) came under modest pressure following the Bank of England’s latest policy announcement.
As widely expected, policymakers voted 7-2 to leave interest rates unchanged at 3.75%.
Investors focused on the Bank’s updated assessment of inflation, with policymakers noting that lower energy prices and the easing of geopolitical tensions have reduced some of the upside risks to inflation.
This led markets to conclude that there is less immediate pressure on the Bank to tighten monetary policy further.
Sterling’s losses were partially limited by stronger-than-expected UK labour market data released earlier in the day.
The unemployment rate unexpectedly fell, while wage growth accelerated beyond forecasts, helping to reinforce the resilience of the labour market despite signs of softer economic growth elsewhere.
Meanwhile, the Euro (EUR) gained ground against Sterling despite facing pressure from a stronger US Dollar.
The single currency remained constrained by the Euro’s inverse relationship with the Greenback following the Federal Reserve’s hawkish policy guidance.
However, EUR sentiment was supported by the signing of an interim peace agreement between the US and Iran.
The agreement includes provisions aimed at restoring energy exports through the Strait of Hormuz and establishing a framework for broader negotiations over the coming months.
Lower energy prices are viewed as particularly beneficial for the Eurozone economy, given the region’s heavy reliance on imported energy supplies.
Near-Term GBP/EUR Forecast: BoE Outlook Remains Key for Sterling
Investors will continue to assess the implications of the Bank of England’s latest policy decision after policymakers voted to leave interest rates unchanged at 3.75%.
While the Bank acknowledged that easing energy prices and reduced geopolitical tensions have lowered some inflation risks, stronger-than-expected wage growth and a resilient labour market may encourage policymakers to remain cautious about signalling future policy easing.
As a result, Sterling could remain supported if markets conclude that UK interest rates are likely to stay elevated for longer than previously anticipated.
For the Euro, investors will continue to monitor comments from European Central Bank policymakers for clues regarding the outlook for monetary policy.
Lower energy prices remain supportive for the Eurozone economy, although the single currency may struggle to gain significant traction if the US Dollar remains underpinned by expectations that the Federal Reserve will maintain a restrictive policy stance.
With central bank policy expectations continuing to drive market sentiment, GBP/EUR is likely to remain sensitive to interest rate developments on both sides of the Channel.
There is no change in the bearish trend of natural gas prices, as the market continues to stabilize below the key barrier at $3.520. In addition, repeated trading below the 55-period moving average increases the likelihood of forming new bearish waves in the near term, targeting $2.920 initially and then the major support level at $2.620.
On the other hand, if the price succeeds in breaking above $3.520 and maintains stability above it, this would confirm a shift to a bullish trend. In that case, a strong upward rally could develop, with initial targets at $3.730 and $3.950, respectively.
The expected trading range for today is between $2.920 and $3.300
The Pound to Dollar exchange rate (GBP/USD) has fallen sharply to 1.3230, its weakest level in several weeks, as investors responded positively to the Federal Reserve’s policy guidance while remaining cautious over the UK outlook. Although both the Federal Reserve and Bank of England left interest rates unchanged, markets interpreted the Fed’s message as relatively supportive for the Dollar while the Bank of England’s prolonged pause reinforced concerns over UK growth prospects.
GBP/USD Forecasts: Dollar Strength Reasserts Itself
The Pound to Dollar (GBP/USD) exchange rate has fallen back sharply after a volatile week dominated by central bank decisions, slipping below the key 1.3300 level as the US Dollar gained broad support.
The Federal Reserve and Bank of England both left interest rates unchanged at 3.75%, but the market reaction proved markedly different for the two currencies.
According to BBH; “We expect GBP/USD to fall to 1.3100, reflecting a stronger US growth outlook relative to the UK.”
While no immediate policy changes were announced, investors focused on guidance from the Federal Reserve and new Chair Kevin Warsh’s first policy meeting.
Danske Bank commented; “We do not expect firm forward guidance from Kevin Warsh regarding future rate moves. We expect the distribution of individual rate views and inflation forecasts to shift higher from March across the rest of the FOMC, while growth and unemployment rate forecasts will remain steadier.”
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The Federal Reserve maintained a cautious stance but stopped short of pushing back aggressively against market expectations that rates may need to remain restrictive for longer.
According to MUFG; “Sentiment has clearly improved for the dollar based on US factors like a more resilient labour market. So, this goes some way to explaining the resilience of the US dollar this week despite the continued sharp falls in crude oil prices.”
The stronger Dollar tone has been reinforced by recent economic releases. Non-farm payrolls exceeded expectations while inflation data has remained elevated enough to keep discussions of further tightening alive.
ING commented; “The view that the Fed will react to this inflation shock has been central to the dollar’s recovery over the last month.”
The bank added; “US real interest rates have risen sharply over recent weeks and that has provided a strong underpinning for the US dollar.”
The Bank of England also left rates unchanged at 3.75%, as expected.
While there were dissenting votes in favour of a hike, the overall tone of the meeting reinforced the view that policymakers are prepared to wait for further evidence before tightening policy.
Recent UK inflation data has been softer than expected, reducing pressure for immediate action. Markets are now much less confident that the BoE will deliver multiple rate hikes this year.
This shift has undermined one of Sterling’s key sources of support over recent months.
The Bank continues to face difficult trade-offs between slowing economic activity and the risk that higher energy prices could eventually feed into broader inflation pressures.
Politics is also becoming a larger influence on the Pound outlook.
The Makerfield by-election remains a major event risk, particularly given speculation that a strong result could increase pressure on Prime Minister Keir Starmer.
BBH commented; “The UK political backdrop can amplify a GBP decline, with Thursday’s Makerfield by-election a key event risk. Polls show Andy Burnham leading Reform UK by anywhere from 3 to 12 points, potentially clearing a path for a leadership challenge to Prime Minister Keir Starmer.”
It added; “A Burnham-led Labour government will likely lead to more spending and borrowing, worsening UK fiscal credibility.”
Investors remain sensitive to any developments that could alter perceptions of future UK fiscal policy, especially at a time when government borrowing costs remain elevated.
The combination of a resilient US economy, firm US yields, expectations that the Federal Reserve may maintain a hawkish bias and ongoing UK political uncertainty has shifted momentum in favour of the Dollar.
GBP/USD has now broken below the 1.3300 area that previously provided support in May. If selling pressure persists, markets will increasingly focus on the next major support zone around 1.3160.
For Sterling to recover meaningfully, investors will likely need to see a deterioration in US economic data, a less hawkish Federal Reserve outlook or a reduction in UK political uncertainty over the coming weeks.
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Platinum price formed several negative waves yesterday, benefiting from the alignment of the main indicators in providing negative momentum. As a result, the price has now reached the first target at $1,655.00, which has recently acted as an obstacle to further bearish movement.
The price may be forced to move sideways for a period in the short term. However, the continued presence of negative factors encourages expectations of a break below the current barrier, which would strengthen the chances of reaching additional bearish targets starting at $1,605.00 and then $1,565.00.
The expected trading range for today is between $1,605.00 and $1,745.00
The shape of the candlestick is starting to look pretty negative, so I think if we break down below the Thursday candlestick, that opens up a move down to 0.57. Breaking the Wednesday candlestick is probably what really starts to accelerate things. Keep in mind, though, Friday is Juneteenth in the United States, so liquidity could be an issue. Certainly, looks like we’re favoring the dollar in the US, though.
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 just one week earlier. The reclaim
reverses the bearish signal that defined my last analysis and drops price back
inside the $66 to $89 consolidation that has framed the white metal since
February.
Wednesday’s
near 3% drop, triggered by a hawkish Federal Reserve, found a floor almost
exactly at the moving average that matters most.
The setup
now is simple. Silver sits at the bottom of a range it has refused to leave for
four months, and the next directional clue is the 50 EMA at $74. Until that
level breaks, very little has changed on the chart since February.
Follow
me on X for real-time silver market analysis: @ChmielDk
A week ago
I wrote that silver had broken below its 200 EMA and warned how low that could
take it, in my analysis of the 200 EMA breakdown. The chart has since flipped. Price
has climbed back above that average, and the consolidation between $66 support
and $89 resistance is live again.
The $66 to
$68 support zone coincides almost to the dollar with the 200 EMA, and that
confluence is what stopped Wednesday’s selloff. The upper boundary near $89
traces the local highs from early February, a level last tested in the first
half of May, which is what triggered the most recent leg down.
This is the
same range I mapped when silver crashed to the $70 floor for
the third time in
March. In 15+ years trading and analyzing metals at FinanceMagnates.com, 10 of
them spent covering silver’s every major break, a 200 EMA reclaim this fast
after a breakdown is rare, and you can read more of my metals work on my analyst page.
Silver is
trying to bounce, but the move higher has a ceiling: the 50 EMA sits near $74,
a meaningful distance above spot. That is the gate. The swing-trading principle
for range-bound markets is direct. As long as price holds between two
boundaries, it tends to travel from one to the other, so the path to $89 stays
open while $66 holds.
From
current levels, the upside to the top of the channel is roughly 30%. My
Fibonacci extension, stretched across the prior trend, puts the 100% level just
above the $89 boundary, which reinforces a target aligned with the dominant
trend. I do not rule that scenario out, but I want to see $74 taken first.
How high can silver go? XAG/USD daily chart with 50 and 200 EMA. Source: Tradingview.com
Key levels:
Level
Type
Notes
$89
Resistance
Upper
consolidation boundary, early February highs, last tested in May
$74
50 EMA
The gate.
Upside stays capped until a clean break
$68
Spot / pivot
Current
price, just above reclaimed support
$66-$68
Support / 200 EMA
Confluence
floor that held on Wednesday
$62
Support
March
swing low, first downside target if $66 fails
A close
back below $66 reopens the $62 March low and turns the chart bearish again. A
daily close above $74 is the trigger I am watching for the move toward $89.
Why Is Silver Recovering?
Silver
climbed above $69 on Thursday after the US dollar retreated from the spike that
followed Wednesday’s Fed decision. President Donald Trump signed an interim
agreement to end the conflict with Iran and reopen the Strait of Hormuz, easing
the oil-driven inflation premium that has weighed on metals all year.
Lower crude
takes pressure off Treasury yields, and softer yields reduce the opportunity
cost of holding non-yielding silver.
The cap on
the rebound is monetary policy. Silver tumbled about 3% on Wednesday after the
Fed signaled growing support for rate hikes this year, with half of FOMC
members projecting that a hike may be needed.
New Fed
Chair Kevin Warsh declined to guide on the next move but stressed that
inflation has run above the 2% target for years. That hawkish tilt is why
silver bounced off support rather than ripping through resistance.
The drivers
behind the current move:
Dollar pullback: The US Dollar Index eased off
its post-Fed spike, the direct trigger for Thursday’s bounce.
Hormuz reopening: The US-Iran interim deal
pulled oil lower, easing the inflation channel that suppressed metals.
Hawkish Fed cap: Half of FOMC members flagged a
possible 2026 hike, keeping yields elevated and limiting upside.
How High Can Silver Go? What
Traders on X Are Watching
Sentiment
among chart-focused traders on X leans cautiously bullish, with the $66 zone
treated as the line in the sand.
“My
view remains bullish while price stays above $60,” said Jess, the trader
behind @JessXAUUSD, who flagged $71 as the breakout trigger
toward $77. That aligns with my own read: $66 holding keeps the bullish
structure intact, though I put the real gate higher, at the $74 50 EMA.
$xag#Gümüş takip ettiğimiz 66 bölgesinde yer alan mavi kutu desteğine geldi. Destekte tutunduktan sonra yükseliş yeniden devam edebilir.
71 tepesini kırdığında takip edeceğimiz dirençler 77-89 tepeleridir. Bu bölge önemli, üzerlerinde kapanış yapıp kalıcılık… pic.twitter.com/NoD5W47UkQ
Kamile Uray
(@remdocan)
sees the same $66 support holding and points to $77 and $89 as the resistances
above a $71 break. The clustering around $89 from independent analysts is
notable, since it matches the top of my consolidation channel exactly.
The most
aggressive target comes from Dr. Potassium (@potassium_phd),
who wrote that silver’s “next target is $96.01, likely sometime in
June,” conditional on the October 2025 trendline holding as support. That
sits well above my channel, and I would need a clean $89 break to entertain it.
Silver 🥈 — $77.04 — still not out of dead cat bounce territory until getting at least above the 50% level of the prior daily candle, but looks promising that the October 2025 trend line will hold as support and that the sell-off is essentially over.
Not
everyone is positioned for a breakout. “Silver is entering a multi-month
sideways consolidation between $60 and $75,” said Damodara Rao (@damodara_SEBIRA), arguing selling momentum is drying up while the market builds a base.
That range-bound thesis is closest to what my chart has shown since February.
Silver is entering a multi-month sideways consolidation between $60 and $75 as the previous parabolic uptrend cools down and selling momentum is also drying up which signals that the market lacks the pressure to break lower but needs time to build a new base. pic.twitter.com/73W7YC3nOP
— Damodara Rao (SEBI RA) (@damodara_SEBIRA) June 13, 2026
Janey (@Janey_Analyst)
framed an intraday long setup off the $67.65 area with short-term targets up to
$70.15, a near-term echo of the broader bullish-while-above-support structure.
#SILVER#XAGUSD Trading Setup – Buy Opportunity (1-Hour Chart)#XAGUSD is approaching a key demand zone, and buying power is emerging. As long as the price remains above the current market area, the bullish outlook remains valid.
The
forecast range for silver remains extraordinarily wide, and the spread between
X traders and institutions tells the story. Back in April I laid out the full institutional case from BofA,
Citi and Reuters as
COMEX inventory tightened. My own structure says the question is binary: hold
$66 and grind toward $89, or lose it and revisit $62.
Source
Target
Notes
Damodara Rao (@damodara_SEBIRA)
$60-$75 range
June 2026, base-building consolidation
Jess (@JessXAUUSD)
$77
On a break above $71
Kamile Uray (@remdocan)
$77, then $89
Resistances above a $71 break
Dr. Potassium (@potassium_phd)
$96
June
2026, if Oct 2025 trendline holds
Citigroup (Max Layton)
$150
3-month
target from January, gold-silver ratio compression
HSBC
$68.25 avg
2026 average forecast
My view on
each: Damodara Rao’s $60-$75 base is the scenario my chart most supports, since
silver has refused to leave this range since February. Jess and Uray’s $77 is
realistic but only after the $74 50 EMA falls, which neither flags explicitly.
Dr. Potassium’s $96 requires breaking $89 first, a level that has capped every
rally this year.
Citi’s $150 call was made in January near the $120
highs and looks stretched against current action. HSBC’s $68.25 average is almost exactly where silver
trades today, which makes it the most credible institutional anchor on the
board.
FAQ, Silver Price Analysis
How high can silver go in
2026?
My chart
puts the immediate ceiling at $89, the top of the consolidation that has held
since February, roughly 30% above the $68.91 price on June 18. A daily close
above the $74 50 EMA is the trigger for that move. Independent X traders target
$77 to $96, while Citigroup’s January call of $150 looks stretched against
current action.
What is the key level for
silver right now?
The 50 EMA
at $74 is the gate. Silver reclaimed its 200 EMA near $66 to $68 this week,
putting price back inside its range, but upside stays capped until $74 breaks
on a closing basis. Below, the $66 confluence floor is the line that keeps the
bullish structure intact.
Why did silver fall this
week?
Silver
dropped about 3% on Wednesday, June 17, after the Federal Reserve signaled
growing support for rate hikes in 2026, with half of FOMC members projecting a
hike may be needed. The hawkish tilt lifted the dollar and Treasury yields,
both headwinds for non-yielding silver, before a US-Iran deal reopening the
Strait of Hormuz sparked Thursday’s bounce.
What is silver’s support
level?
The $66 to
$68 zone is critical support, coinciding almost exactly with the 200 EMA, and
it held on Wednesday’s selloff. A daily close below it reopens the $62 March
swing low as the next downside target. As long as $66 holds, the four-month
consolidation between $66 and $89 stays intact.
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 just one week earlier. The reclaim
reverses the bearish signal that defined my last analysis and drops price back
inside the $66 to $89 consolidation that has framed the white metal since
February.
Wednesday’s
near 3% drop, triggered by a hawkish Federal Reserve, found a floor almost
exactly at the moving average that matters most.
The setup
now is simple. Silver sits at the bottom of a range it has refused to leave for
four months, and the next directional clue is the 50 EMA at $74. Until that
level breaks, very little has changed on the chart since February.
Follow
me on X for real-time silver market analysis: @ChmielDk
A week ago
I wrote that silver had broken below its 200 EMA and warned how low that could
take it, in my analysis of the 200 EMA breakdown. The chart has since flipped. Price
has climbed back above that average, and the consolidation between $66 support
and $89 resistance is live again.
The $66 to
$68 support zone coincides almost to the dollar with the 200 EMA, and that
confluence is what stopped Wednesday’s selloff. The upper boundary near $89
traces the local highs from early February, a level last tested in the first
half of May, which is what triggered the most recent leg down.
This is the
same range I mapped when silver crashed to the $70 floor for
the third time in
March. In 15+ years trading and analyzing metals at FinanceMagnates.com, 10 of
them spent covering silver’s every major break, a 200 EMA reclaim this fast
after a breakdown is rare, and you can read more of my metals work on my analyst page.
Silver is
trying to bounce, but the move higher has a ceiling: the 50 EMA sits near $74,
a meaningful distance above spot. That is the gate. The swing-trading principle
for range-bound markets is direct. As long as price holds between two
boundaries, it tends to travel from one to the other, so the path to $89 stays
open while $66 holds.
From
current levels, the upside to the top of the channel is roughly 30%. My
Fibonacci extension, stretched across the prior trend, puts the 100% level just
above the $89 boundary, which reinforces a target aligned with the dominant
trend. I do not rule that scenario out, but I want to see $74 taken first.
How high can silver go? XAG/USD daily chart with 50 and 200 EMA. Source: Tradingview.com
Key levels:
Level
Type
Notes
$89
Resistance
Upper
consolidation boundary, early February highs, last tested in May
$74
50 EMA
The gate.
Upside stays capped until a clean break
$68
Spot / pivot
Current
price, just above reclaimed support
$66-$68
Support / 200 EMA
Confluence
floor that held on Wednesday
$62
Support
March
swing low, first downside target if $66 fails
A close
back below $66 reopens the $62 March low and turns the chart bearish again. A
daily close above $74 is the trigger I am watching for the move toward $89.
Why Is Silver Recovering?
Silver
climbed above $69 on Thursday after the US dollar retreated from the spike that
followed Wednesday’s Fed decision. President Donald Trump signed an interim
agreement to end the conflict with Iran and reopen the Strait of Hormuz, easing
the oil-driven inflation premium that has weighed on metals all year.
Lower crude
takes pressure off Treasury yields, and softer yields reduce the opportunity
cost of holding non-yielding silver.
The cap on
the rebound is monetary policy. Silver tumbled about 3% on Wednesday after the
Fed signaled growing support for rate hikes this year, with half of FOMC
members projecting that a hike may be needed.
New Fed
Chair Kevin Warsh declined to guide on the next move but stressed that
inflation has run above the 2% target for years. That hawkish tilt is why
silver bounced off support rather than ripping through resistance.
The drivers
behind the current move:
Dollar pullback: The US Dollar Index eased off
its post-Fed spike, the direct trigger for Thursday’s bounce.
Hormuz reopening: The US-Iran interim deal
pulled oil lower, easing the inflation channel that suppressed metals.
Hawkish Fed cap: Half of FOMC members flagged a
possible 2026 hike, keeping yields elevated and limiting upside.
How High Can Silver Go? What
Traders on X Are Watching
Sentiment
among chart-focused traders on X leans cautiously bullish, with the $66 zone
treated as the line in the sand.
“My
view remains bullish while price stays above $60,” said Jess, the trader
behind @JessXAUUSD, who flagged $71 as the breakout trigger
toward $77. That aligns with my own read: $66 holding keeps the bullish
structure intact, though I put the real gate higher, at the $74 50 EMA.
$xag#Gümüş takip ettiğimiz 66 bölgesinde yer alan mavi kutu desteğine geldi. Destekte tutunduktan sonra yükseliş yeniden devam edebilir.
71 tepesini kırdığında takip edeceğimiz dirençler 77-89 tepeleridir. Bu bölge önemli, üzerlerinde kapanış yapıp kalıcılık… pic.twitter.com/NoD5W47UkQ
Kamile Uray
(@remdocan)
sees the same $66 support holding and points to $77 and $89 as the resistances
above a $71 break. The clustering around $89 from independent analysts is
notable, since it matches the top of my consolidation channel exactly.
The most
aggressive target comes from Dr. Potassium (@potassium_phd),
who wrote that silver’s “next target is $96.01, likely sometime in
June,” conditional on the October 2025 trendline holding as support. That
sits well above my channel, and I would need a clean $89 break to entertain it.
Silver 🥈 — $77.04 — still not out of dead cat bounce territory until getting at least above the 50% level of the prior daily candle, but looks promising that the October 2025 trend line will hold as support and that the sell-off is essentially over.
Not
everyone is positioned for a breakout. “Silver is entering a multi-month
sideways consolidation between $60 and $75,” said Damodara Rao (@damodara_SEBIRA), arguing selling momentum is drying up while the market builds a base.
That range-bound thesis is closest to what my chart has shown since February.
Silver is entering a multi-month sideways consolidation between $60 and $75 as the previous parabolic uptrend cools down and selling momentum is also drying up which signals that the market lacks the pressure to break lower but needs time to build a new base. pic.twitter.com/73W7YC3nOP
— Damodara Rao (SEBI RA) (@damodara_SEBIRA) June 13, 2026
Janey (@Janey_Analyst)
framed an intraday long setup off the $67.65 area with short-term targets up to
$70.15, a near-term echo of the broader bullish-while-above-support structure.
#SILVER#XAGUSD Trading Setup – Buy Opportunity (1-Hour Chart)#XAGUSD is approaching a key demand zone, and buying power is emerging. As long as the price remains above the current market area, the bullish outlook remains valid.
The
forecast range for silver remains extraordinarily wide, and the spread between
X traders and institutions tells the story. Back in April I laid out the full institutional case from BofA,
Citi and Reuters as
COMEX inventory tightened. My own structure says the question is binary: hold
$66 and grind toward $89, or lose it and revisit $62.
Source
Target
Notes
Damodara Rao (@damodara_SEBIRA)
$60-$75 range
June 2026, base-building consolidation
Jess (@JessXAUUSD)
$77
On a break above $71
Kamile Uray (@remdocan)
$77, then $89
Resistances above a $71 break
Dr. Potassium (@potassium_phd)
$96
June
2026, if Oct 2025 trendline holds
Citigroup (Max Layton)
$150
3-month
target from January, gold-silver ratio compression
HSBC
$68.25 avg
2026 average forecast
My view on
each: Damodara Rao’s $60-$75 base is the scenario my chart most supports, since
silver has refused to leave this range since February. Jess and Uray’s $77 is
realistic but only after the $74 50 EMA falls, which neither flags explicitly.
Dr. Potassium’s $96 requires breaking $89 first, a level that has capped every
rally this year.
Citi’s $150 call was made in January near the $120
highs and looks stretched against current action. HSBC’s $68.25 average is almost exactly where silver
trades today, which makes it the most credible institutional anchor on the
board.
FAQ, Silver Price Analysis
How high can silver go in
2026?
My chart
puts the immediate ceiling at $89, the top of the consolidation that has held
since February, roughly 30% above the $68.91 price on June 18. A daily close
above the $74 50 EMA is the trigger for that move. Independent X traders target
$77 to $96, while Citigroup’s January call of $150 looks stretched against
current action.
What is the key level for
silver right now?
The 50 EMA
at $74 is the gate. Silver reclaimed its 200 EMA near $66 to $68 this week,
putting price back inside its range, but upside stays capped until $74 breaks
on a closing basis. Below, the $66 confluence floor is the line that keeps the
bullish structure intact.
Why did silver fall this
week?
Silver
dropped about 3% on Wednesday, June 17, after the Federal Reserve signaled
growing support for rate hikes in 2026, with half of FOMC members projecting a
hike may be needed. The hawkish tilt lifted the dollar and Treasury yields,
both headwinds for non-yielding silver, before a US-Iran deal reopening the
Strait of Hormuz sparked Thursday’s bounce.
What is silver’s support
level?
The $66 to
$68 zone is critical support, coinciding almost exactly with the 200 EMA, and
it held on Wednesday’s selloff. A daily close below it reopens the $62 March
swing low as the next downside target. As long as $66 holds, the four-month
consolidation between $66 and $89 stays intact.
The Euro has tried to rally on Wednesday, but continues to see overhead resistance, as we are looking at a market that has no real clarity.
EUR/USD
The Euro has run to the upside initially during the trading session on Wednesday, only to turn around and show signs of weakness.
That being said, the EUR/USD market is likely to continue to be very noisy. I think ultimately, we have to ask some questions of the 200-day EMA, which is where we stalled, and then I think you have to ask questions about the interest rate markets and really what is going on there.
Macroeconomic Factors and Technical Ranges
Because, quite frankly, the interest rate markets, specifically the 10-year yield in the United States, have been drifting a little bit during the trading session on Wednesday, yet again, as traders are trying to price in the idea of free travel through the Strait of Hormuz in the Middle East. After all, a lot of what had been priced in was energy inflation.
That being said, during the interest rate decision and following press conference, the Europeans this week did suggest something along the lines of a downturn in the economy, and I think ultimately you have a scenario where the US Dollar will strengthen eventually.
We are close to the middle of the overall consolidation range, with the 1.14 level underneath being a major floor and the 1.1850 level being a major ceiling. As we are right in the middle, I think you would see a reaction.
Keep in mind Friday is Juneteenth in the United States, so liquidity will all but disappear pretty quickly once we get through the Asian session and the Europeans on Friday. We will just drift into the weekend. I just don’t think there’s any real understanding of what’s going on in the Middle East for people to put big bets on right now.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
