Silver Price Faces Increased Bearish Pressure Amid Break Below Key Support

The silver price has been experiencing consecutive losses in its latest intraday trading after breaking below EMA'50's support, which has turned into a dynamic resistance weighing on the price. The dominance of the short-term bearish trend is increasing the chances of deeper losses in the near term.

However, noticing positive crossovers on the relative strength indicators after reaching extremely oversold levels may provide some positive momentum and help curb the pace of decline in the near term.