Silver price deepened its losses during recent intraday trading after failing to break the key resistance level at $74.50. The price has since come under negative pressure, trading below EMA50, which reinforces the dominance of the short-term bearish trend, especially as it moves along a minor downward trendline. Negative signals from the relative strength indicators continue to support the bearish outlook; however, the indicator has entered oversold territory, which may lead to a temporary rebound or sideways movement in the very short term.