Silver futures are currently experiencing a period of heightened volatility, as indicated by large price bars and fast momentum. The short-term trend has shifted to the downside, with price trading below the weekly session fib grid and both the 5-day and 10-day moving averages trending lower. This is reinforced by the most recent swing pivot trend (DTrend) and a new swing low established at 46.015, suggesting short-term pressure remains to the downside. However, the intermediate-term and long-term outlooks remain constructive. The monthly and yearly session fib grids both show price above their respective NTZ/F0% levels, and the 55-day, 100-day, and 200-day moving averages are all trending higher. The intermediate-term swing pivot trend (HiLo Trend) is still up, and the next key resistance levels to watch are 47.460, 50.585, and the recent high at 53.615. Support is found at 46.015, with further levels at 41.491 and 37.729. Recent trade signals reflect this mixed environment, with both long and short signals triggered in the last two sessions, highlighting the choppy and potentially transitional nature of the current market. The elevated ATR and moderate volume suggest active participation and the potential for continued wide price swings. In summary, the short-term environment is corrective within a broader bullish structure. The market is in a pullback phase after a strong rally, with the potential for further downside tests before the longer-term uptrend resumes. Key levels to monitor are the recent swing low for support and the 20-day moving average for signs of renewed upward momentum.