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データ基準日: 2026-10-07 · 決済基準: 取引所最終日次決済価格

Silver (SI=F) Deep Dive | Short Bias on Weakness | 2026-10-08

We maintain a SHORT bias on Silver (SI=F) with an invalidation if price sustains above 61.68 (R1). The metal is trapped in a bearish 20-day channel, down 12.17% over the past month, and faces structural headwinds from rising inventories and a crowded short squeeze risk that has recently unwound. While the gold/silver ratio sits at a 70.24% 1-year percentile, indicating silver has underperformed gold recently, this relative weakness is not yet a contrarian buy signal given the broader technical breakdown. The immediate catalyst is the failure to hold the 60.45 pivot, with Asia trading at 60.04, signaling further downside toward the 59.07 support. We advise clients to look for short opportunities on rallies, targeting the 57.84 level, while remaining vigilant for a reversal if the 61.68 resistance breaks with conviction.