Just been looking at the silver price action and it's gotten pretty rough lately. XAG/USD has been getting hammered, down over 6% just today and sitting around $67.89 at the moment. The weekly losses are adding up too - we're looking at something like 15%+ down for the week, which is pretty brutal.

What's interesting is that silver price forecast charts are showing we've broken through some key levels. The 100-day moving average around $72.55 gave way, and now we're testing that psychological $70 mark. The RSI is deep in oversold territory, which honestly could signal a bounce is coming soon if we see it consolidate and form a proper bottom.

For the XAG/USD to recover from here, it needs to reclaim $70 first, then push back above that moving average. If bulls can hold the February low around $64.10, there's still a case for an uptrend later. But right now momentum is clearly with the sellers. Medium-term structure has held up with higher lows and highs, so it's not all doom, but in the short term we're definitely in a bearish phase. Watching to see if silver price forecast turns around or if we test that six-week low near $65.50.