Silver Price Pulls Back to 100-Day SMA, Uptrend Remains Intact

The silver price has pulled back to test its 100-day Simple Moving Average (SMA) after failing to breach the $70.00 mark, causing a reversal in Monday's trading.

Despite this setback, the uptrend remains intact, with the Relative Strength Index (RSI) still indicating bullish sentiment.

The market structure of higher highs and higher lows suggests further upside potential for silver, but bulls must reclaim the $70.00 milestone before targeting the 200-day SMA at $72.13 or the May 25 cycle high at $78.83.