On evaluating the movements of the futures on different time frame charts, I observe that the silver futures, despite trading in a narrow range since the beginning of this month, after experiencing a steep fall on January 30, 2026, are trying to hold the immediate support at the 50 EMA ($75.774) in a daily chart.
Undoubtedly, a breakdown below this significant support could push the futures to test the next support at the 100 EMA ($63.332) this week, as trading volumes are likely to remain thin due to a holiday-packed week.
However, the formation of a bearish crossover since Feb.5, 2026 look evident enough to keep the selling pressure at the current levels as the silver futures have tied to slip below the 50 EMA last Friday to test the second support at the 100 EMA but found some buying support, and close the last week at $70.266, despite testing the day’s low at $63.975, just above the 100 EMA ($63.332).
I observe that today’s candle, showing a surge in bearish pressure, could close today’s session below the 50 EMA.
I also observe that the silver futures are showing an extensive surge in bearish pressure in 1-Hr. The chart shows the 9 EMA ($76.375, 20 EMA ($76.691, and 50 EMA ($77.855) have come below the 100 EMA ($79.179), which has already been trading below the 200 EMA ($81.757), forming an extremely bearish crossover.
Undoubtedly, silver futures are trying to sustain the immediate resistance at the 20 EMA, where a breakdown below the immediate support at the $74.106 will keep the futures deeper in the bearish territory.
Inversely, any bounce back generated after a negative news flow will attract big bears at every upward move above the $88 levels.
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Disclaimer: Readers are advised to take any position in silver at their own risk, as this analysis is based only on observations.
