Silver Price Forecast: Bearish Breakdown May Set Up the Next Silver Rally
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Key Points:
- Silver remains under short-term pressure as bearish price action keeps momentum weak.
- Strong U.S. Treasury yields and a firmer U.S. dollar remain the main headwinds for precious metals.
- Weak consumer sentiment, high inflation expectations, and silver’s relative strength against gold continue to support the bigger bullish outlook.
Silver (XAG) faces short-term pressure as the price failed to break the $90. In my view, the $70-$72 remains the key support and a break below this level will offer further downside. But the weak consumer sentiment, higher inflation expectations and silver’s relative strength to gold bolster the larger bullish case. This article discusses the key technical levels, macro catalysts and market risks that may determine whether silver breaks lower first or resumes its bigger bullish trend from $70.