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Data as of: 2026-10-08 · Settlement: Exchange final daily settlement

Silver (SI=F) Deep Dive | Bullish Rebound Play on Oversold Technicals | 2026-10-09

We initiate a bullish stance on Silver (SI=F) with a target of 61.775 and an invalidation below 57.555. The metal is technically oversold after a sharp 20-day decline of 8.48%, trading near the lower bound of its 20-day channel at 58.73. While macro headwinds from a surging dollar and rising yields have pressured prices, the recent intraday bounce in Asian trade (+0.33% vs settle) suggests a potential mean reversion. Inventory levels at COMEX remain stable, and the gold/silver ratio sits at a 1-year high, indicating silver is historically cheap relative to gold. We expect a rebound toward the R2 pivot at 61.775 as short covering accelerates.