Silver rebounded sharply on Thursday June 18 2026, trading at $68.91 per ounce with a 1.5% daily gain, reclaiming the critical 200-day exponential moving average it had breached just one week prior. The recovery follows Wednesday’s near 3% plunge triggered by hawkish Federal Reserve commentary, with support holding precisely at the 200 EMA level. XAG/USD has now returned inside the $66 to $89 consolidation range that has contained price action since February 2026.
The immediate technical picture centers on the 50 EMA at $74, which now serves as the next resistance gate. Traders are watching whether silver can break through this level to confirm bullish momentum toward the range high near $89, representing roughly 30% upside from current levels. The $66 to $68 zone continues to provide critical support, with any daily close below reopening the March low of $62 and signaling renewed bearish pressure.
FXnCO Insight
Silver traders should monitor the $74 resistance level for directional confirmation, with range-bound conditions favoring swing trades between $66 support and $89 resistance until a decisive breakout occurs.
Source: Finance Magnates