Silver Price: Road to $100 Remains Open as Macro Headwinds Build

Silver posted its sharpest single-day reversal in weeks after rallying more than 50% from early-February crash lows to touch $96 on March 2, then giving back over 14%. The daily chart still shows a developing cup-and-handle pattern with an upsloping neckline near $96; a close above that level would raise the odds of a breakout.

The handle must hold above the $82 intraday wick low from March 3, and a hidden bullish divergence on the RSI between January 8 and March 3 — price making a higher low while RSI makes a lower low — supports the underlying uptrend. Three supportive signals, however, have flipped.

The gold–silver ratio spiked toward 64 on March 3 and has broken out of its prior flag, opening targets toward 67 and 70 where gold would decisively outperform silver. Backwardation on COMEX silver futures, which showed a mid-February spot premium of about $2, has vanished and spot and futures now trade near $85–$86.

silver, silver price, cup-and-handle, neckline, breakout, rsi divergence, gold-silver ratio, comex, backwardation, spot premium