Silver Price Dips Amid Resistance Test

The silver price has declined slightly during its recent intraday trading as it reached an important resistance level at $67.40.

This prompted the price to take profit from its previous gains while attempting to gain positive momentum that may help it break through this resistance.

The price is also attempting to alleviate some of its clear overbought conditions on the relative strength indicators, particularly with the beginning of a bearish crossover emerging on them.

This comes amid positive support resulting from the price trading above EMA50, providing a dynamic support base that reinforces the dominance of the main bullish trend in the short term.