The pivotal element in this unfolding drama will be Fed Chair Jerome Powell’s commentary, potentially shedding light on the bank’s future game plan. Short-Term Forecast In essence, the scales tip towards the Fed persisting in its hawkish stance, striving to pull inflation closer to the 2% mark – a development that might not bode well for silver. Given the proximity to key support and the mildly positive RSI, the market sentiment leans slightly bullish, but caution is advised as it is nearing the 200-4H moving average resistance.