Silver has been trading in a narrow band in the recent price action. Such a tendency indicates a stabilizing market that was more volatile earlier in the past. Before traders put on large positions, they seemed to be taking market indications. Nevertheless, the most recent price action shows that momentum has been declining, but the…
Analyst Kamile Uray said the $70.783 low remains important, as holding that area could allow a new rebound attempt. Silver continued to trade sharply lower as XAG pulled back from its recent rally and tested key technical support zones. Momentum readings also show pressure may be stretched in the short term. Uray said RSI has…
Silver is trying to rebuild momentum after buyers stepped in near $66 and prevented a deeper break. XAG/USD traded around $68.59 on the daily chart, placing the price slightly above its 200-day moving average after a volatile decline. The rebound has produced an early reversal signal, but silver still trades below several major resistance levels.…