Silver Price Bounces Off Three-Week Low at $63.00 Amid Bearish Technical Setup

Silver prices rebounded from their lowest point in over three weeks on Friday, reaching $63.00 before staging a modest intraday recovery.

The silver price (XAG/USD) recovered some losses from its earlier drop to a three-week low of $63.00 but still appears limited by a bearish technical setup and the upcoming US CPI report release.

The Relative Strength Index (RSI) at 37.46 and negative Moving Average Convergence Divergence (MACD) reading at -0.38 on H4 hint that downside momentum remains dominant, suggesting any subsequent move up could be a selling opportunity.