Silver Price Holds Steady Amid Growing Selling Pressure

The silver price remains within its range of $66 to $70 since mid-August, despite fundamental headwinds. The daily chart shows neither buyers nor sellers in control, with momentum indicators indicating a lack of directional conviction.

The Relative Strength Index (RSI) is hovering near the 50 line, and the Moving Average Convergence Divergence (MACD) is just below zero, suggesting a lack of clear direction. The 100-day Simple Moving Average (SMA) at $66 continues to cap the upside.

On the downside, a break below the 50-day SMA at $63 would expose $60, then $55. A break above the 100-day SMA would bring the top of the recent range near $70 into view, followed by the 200-day SMA at $73.