Silver prices saw a slight decline during the latest intraday session as the market consolidated recent gains and looked to regain upward momentum.
The modest pullback appears to be a natural correction, aimed at easing overbought conditions signaled by the Relative Strength Index (RSI). Technical indicators are showing negative overlapping signals, suggesting a potential pause or temporary slowdown in the bullish trend.
Despite this short-term decline, silver remains underpinned by key technical support. The breach of a minor bearish trendline, coupled with sustained trading above the 50-day Exponential Moving Average (EMA50), continues to provide a positive bias on the short-term outlook.
Analysts suggest that the current consolidation phase could allow silver to build fresh positive momentum, positioning the metal for a potential rebound if supportive signals re-emerge.
