Silver Price Hits $60 Resistance Amid Death Cross Signal

The silver price has stalled at around $60, a key resistance level that could be putting upward momentum on hold.

This comes as the 50-day EMA (exponential moving average) has dropped below the 200-day EMA, creating a death cross signal. This technical indicator can suggest longer-term downward pressure.

The market is currently in a holding pattern, with no clear direction or catalyst for change. The situation is being closely watched by traders and investors, who are keeping an eye on interest rate markets in the US, as well as the value of the US dollar.