Silver’s immediate range remains anchored at the $50.02–$49.97 support band. A firm hold could allow buyers to target the next upside marker at $51.07, followed by the secondary lower top at $54.39 if momentum builds.
A sustained drop under $49.97 opens the door to $48.93, the last Fibonacci barrier before the 50-day moving average at $47.76. Buyers are expected to step in on the first test of that moving average; failure there exposes deeper levels at $46.88 and $45.55.
Silver Outlook: Slight Bearish Bias Until Fed Data Shifts Sentiment
Silver retains a slight bearish tone while traders wait for confirmation that rate-cut odds can rebuild. Without supportive data, sellers are likely to test the lower end of the range again. A decisive improvement in labor or inflation expectations is needed for bulls to regain control in the short term.
More Information in our Economic Calendar.
