Market participants are ignoring the silver shortage and increased demand, and amid risk-averse sentiment, they have been selling again. Thus, the rebound from support near $74.30 per ounce to resistance near $76.80 has again attracted selling interest, under pressure from which the metal has once again tested the aforementioned support. Overall, the risks of a breakout and a decline toward $73.20-72.80 remain. A break of resistance at $75.20-75.40 will lead to a rise toward $76.20-76.40 per ounce. In the long term, the uptrend remains valid, but range-bound trading and spikes in volatility are still possible in the near term.