Following a large decline, the price witnessed a comeback from the 38.2% Fibonacci support level that was located around Rs 139,700 while it was trading. At the moment, the 50-day moving average is located at Rs 140,500, which operates as an essential support level for the current trend. After being oversold for a length of time, the Relative Strength Index has recovered to 52, which indicates a beneficial change in momentum. Despite the fact that the MACD signal continues to point to a bearish crossover, the momentum that is driving the decline towards the bottom appears to be decreasing.

Following a period of corrective action from its most recent top of roughly Rs 170,400, the futures market for silver has demonstrated indications of beginning to stabilize recently. It would appear that the price has discovered a level of support close to the 38.2% Fibonacci retracement, which is located at Rs 139,700. The 50-day moving average, which is located at Rs 140,500, functions as a strong support level. On the other hand, the 200-day moving average, which is located at Rs 119,300, is substantially lower, which further supports the idea that the long-term trend is still firmly established.

The Relative Strength Index has reached 52, which indicates a little improvement in purchasing power. On the other hand, the Moving Average Convergence Divergence is showing signs of stabilizing momentum, despite the fact that it is still in a bearish position. This suggests that there may be a transition toward consolidation or a sluggish recovery phase. The decline appears to be slowing down, with the possibility of forming a short-term base before attempting a rebound, as technical indicators begin to hint at a shift in market sentiment.

According to the analysis, the levels of resistance are located at Rs 151,400 and Rs 157,800, while the levels of support are observed at Rs 139,700 and Rs 130,200. The presence of multiple support layers, including Fibonacci and moving averages, indicates that silver may be approaching a consolidation zone rather than extending its downtrend. A sustained hold above the Rs 140,000 region could pave the way for a gradual recovery toward higher resistance levels, reaffirming the potential for a more stable trading phase ahead.