As a result of the price continuing to be higher than the 50-day moving average, a more general optimistic framework is being maintained, and following the assessment of the upper Fibonacci resistance level, which was located at Rs 170,400, a little retracement has been detected. A possible weakening of short-term momentum following the recent surge is indicated by the drop in the relative strength index, while the Moving Average Convergence Divergence continues to show a bullish crossover, which supports a positive medium-term outlook.

While the levels of resistance are noted at Rs 170,400, the important support levels are located at Rs 153,200 and Rs 139,700. Silver futures keep their values much higher than the 50-day moving average, which is roughly Rs 153,200, and this demonstrates that silver futures are performing quite well. This indicates that there is a solid base of strength, particularly in light of recent activities aimed at generating profit.

There was a modest pullback that occurred as a result of the market encountering selling pressure near the 100% Fibonacci level, which was located at Rs 170,400, and the current level of support is located around the 78.6% retracement level, which is Rs 153,200. Additionally, a more solid foundation can be found at the 61.8% mark, which is located around Rs 139,700, and the RSI values indicate a gradual decline, implying that the recent upward trend is starting to lose momentum.

Given the current circumstances, the bullish crossover of the MACD remains a significant indicator, and it serves to strengthen the medium-term trend and indicates that any price declines may potentially draw buying interest. There is a steady level of market activity, as indicated by the patterns in volume, which reflects stability without large fluctuations.