Silver Price Forecast: XAG $72 Holds Below Downtrend as Bears Keep Control

Silver (XAG/USD) trades around $72.40 on the 2-hour chart, continuing its pullback from the $120 high. Recent candles are small with lower highs, showing weak recovery attempts instead of forming a base. The price is still below a falling trendline from late January, so short-term pressure continues.

Silver is trading below the 50-EMA near $90 and the 200-EMA around $92, which confirms a bearish setup. The old support at $81.30 is now resistance. The next downside targets are $64.40 and then $60.00, both matching earlier consolidation and demand. The price is moving in a falling channel, not dropping sharply.

Momentum indicators are not showing much improvement. The RSI is below 40, which means sellers are still in control and not yet worn out. The bias would only change if the price breaks above the trendline, but that has not happened yet.

Trade idea: Consider selling on rebounds below $75, aiming for $64, and set a stop above $82.