Silver’s 2026 rally has stalled, and a fresh technical forecast suggests the metal may be headed toward its lower weekly Bollinger Band near $54.76 by November. The XAG/USD pair was trading around $60.82 as of October 10, 2026, up 0.74% on the day, but well below the peak near $95 reached earlier in the year.
Analyst CyclesFan shared the bearish target in a post on X, pointing to the lower weekly Bollinger Band as a potential downside objective. The analyst also noted that a weekly close above the 20-week moving average—the middle Bollinger Band—would invalidate the bearish outlook if the recovery strengthens.
Momentum indicators support the cautious view. The Chaikin Money Flow indicator has turned negative, with a latest reading of -0.08, signaling that selling pressure has overtaken buying pressure. This comes after heavy trading activity during the steep rise and subsequent correction in silver.
The move from roughly $60.82 to $54.76 would represent about a 10% decline. However, the lower Bollinger Band is not a guaranteed price target, but rather a technical reference that could attract buyers if silver approaches it.
