March 16, 2026 Spot Silver Evening Analysis

Silver performed weaker than gold today, plunging right at the open. International silver prices dropped sharply from above $80, touching near $77 at the lowest, with a slight rebound in the evening, oscillating in the $78-80 range. Shanghai silver fell in sync, with clear bearish dominance throughout the day.

First, the Federal Reserve has a rate decision meeting this week, and the market believes rate cuts will be postponed. The US dollar and US Treasury yields strengthened, weighing heavily on silver. Second, prices surged too much in the previous period, with funds taking profits and exiting. Without supportive bullish factors, the decline became more decisive.

The daily chart shows a large bearish candle, breaking below short-term moving averages with bearish advantage. The 4-hour chart is moving along a descending channel with weak rebounds. Key levels are clear: $80-82 above is resistance, $77-78 below is strong support. Indicators are oversold with rebound demand, but the weakness is difficult to reverse.

This evening will likely oscillate in the $77-82 range. Don't chase entries. If $77 holds, light long positions can be taken with targets near $79-82 with strict stop losses. The major direction should be determined after the Fed meeting concludes. Currently it's just grinding at low levels; watching more and moving less is more prudent.

The above is merely personal suggestion for reference only and does not constitute investment basis. Please refer to Cheng Jingsheng's specific layout! $XAG ‌#XAG