The silver market experienced noisy trading on Tuesday. Traders worked to defend the $70 level. Interest rates continue to drive market movement.
The market shows significant volatility. This has become a normal trend. Traders are trying to re-establish a previous trading range between $70 and $90.
A move towards $90 faces barriers. Traders watch the 50-day Exponential Moving Average (EMA) and the $80 level. Interest rates must cool off for silver to rally.
The 10-year U.S. yield is a key indicator. A significant drop below 4.30% could trigger a large rally in silver. The market currently awaits such a development.