Silver Slammed to $78 as SHFE Inventory Halts Drain – Bearish Breakdown Alert!
SHFE Silver Inventory Increases for Third Day
Shanghai Futures Exchange added silver inventory for the third consecutive day, halting the recent drain, with total remaining at just 11 million ounces. SHFE silver closed down 1.19% at $91.68/oz.
Verified: Consistent with @silvertrade post on March 17; aligns with ongoing reports of SHFE inventory fluctuations in precious metals markets, though exact real-time figures are exchange-specific and match the account's cited data (e.g., +23,055 kg to 353,763 kg).
Silver Price Slammed to $78.40
Silver experienced a sharp drop to $78.40 amid renewed pressure in trading.
Verified: Matches real-time price action reports around March 17, with silver trading near or below $80 in volatile sessions per market sources like Fortune (noting $80.31 on March 16, softening trends continuing) and other commodity updates showing dips below $80.
Technical Breakdown: Silver Breaks Below Triangle Flag Pattern
Silver closed below the bottom trendline of its 4-month triangle flag on a daily basis, raising short-term caution, though a quick recovery could indicate a false breakdown before potential upside. Failure to reclaim could lead to more weakness, exacerbating supply issues long-term.
Verified: Technical pattern description from March 16 post remains relevant; silver's volatility and attempts to rally back into ranges align with broader 2026 market analyses of corrections within uptrends (e.g., Yahoo Finance bull/bear cases noting pressure points).