Most analysts maintain bullish silver outlook for 2026 targeting $90-120 on sixth deficit year and China supply restrictions, with JPMorgan as notable bear citing substitution risk
Core
Cautiously neutral to slightly bullish entering March seasonality with DeepSeek concerns gradually fading but elevated valuations and Fed hawkishness creating balanced risk-reward
Core
Bullish medium-term with structural central bank support intact and Fed maintaining accommodative bias creating constructive backdrop for continuation toward $5200-5600 despite January profit-taking consolidation
Core
Cautiously defensive near-term given February AI spending volatility and seasonal weakness but acknowledging March seasonal strength ahead could provide recovery catalyst
Core
Cautiously bearish expecting structural oversupply and weak Chinese demand to push prices toward $55-58 range over 2026 despite OPEC+ Q1 production freeze, but acknowledging February 20 Iran catalyst as wildcard
Core
EUR consolidation in 1.17-1.19 range through March with cautious neutral bias - 85% of economists expect ECB unchanged through 2026 while Fed holds at 3.50-3.75%
Extended
Mild USD/JPY bullish bias on rate differential; intervention risk acknowledged but not priced as imminent
Extended
Small-caps positioned to extend outperformance following historic breakout with superior 18-22% earnings growth and Fed easing cycle supporting continued rotation despite near-term seasonal consolidation
Extended
Copper rallied to record highs on supply concerns with elevated prices expected into 2026 but near-term consolidation likely as market digests extraordinary gains, China Q4 demand declining 8% YoY, and COMEX inventory surge to 503,000 mt
Extended
Neutral to mildly bearish consolidation expected with defensive positioning ahead of March 19 BoE meeting as declining UK inflation to 3.0% supports easing expectations
Full Desk
Constructive consolidation within structural bull market as extraordinary 2025 gains digest against 2026 balanced forecast, with February seasonal support providing near-term floor before next directional move
Full Desk
Shifting from aggressive bullish expecting continued RBA tightening toward cautious constructive recognizing inflation-driven hawkish floor creates support but acknowledging 12% rally extension and approaching major resistance requires consolidation