Silver declined during its recent intraday trading, affected by a previously formed negative technical pattern represented by a rising wedge on the short-term timeframe, which increased selling pressure and pushed the price to continue falling.

This bearish scenario is reinforced as the price continues to trade below EMA50, which acts as dynamic resistance limiting its movements. At the same time, a negative crossover is beginning to appear on the relative strength indicators after easing part of the oversold condition, giving the price more room to deepen its losses in the near term.