Silver – bulls pause below the key psychological $45 barrier

Silver price eased its momentum after reaching a new multi-year high at \$44.46 on Tuesday but maintains a solid bullish outlook, supported by the ongoing strength in gold.

The Doji candle formed on Tuesday, followed by a similar pattern on Wednesday, reflects hesitation as the market approaches the key psychological \$45.00 barrier.

Overbought signals on the daily chart suggest that bulls may temporarily pause for consolidation or a shallow correction. Immediate support is seen at the \$43.65 area (Tuesday/Wednesday lows), while deeper retracements should ideally hold above the rising 10DMA and the 50% pullback of the \$41.11–\$44.46 rally at \$42.75, keeping the broader bullish structure intact for another leg higher within a strongly positive sentiment backdrop.

A sustained break above the \$45.00 pivot would open the way towards Fibonacci projections at \$45.51 and \$45.94, with the nearby round \$46.00 level acting as further resistance.

On the downside, a clear drop below \$42.75 support could trigger a deeper correction, exposing \$41.70 (rising 20DMA) and the \$41.11/41.19 zone (higher base from Sep 17/18).

Res: 44.46; 45.00; 45.51; 45.94
Sup: 43.65; 42.75; 41.70; 41.11