Silver strengthened its early gains in recent intraday trading, retesting the key resistance level at $70.00. This comes despite the dominance of a short-term bearish trend, with price movements aligned alongside a minor downward trendline supporting this direction.

The price continues to face negative pressure as it trades below EMA50, increasing bearish pressure, reinforced by the formation of a negative divergence on the relative strength indicator, after reaching heavily overbought levels compared to price movement, besides the emergence of negative signals.