Commodities
Silver Price Plummets Below $63 Amid Head-and-Shoulders Pattern
The price of Silver has resumed its downtrend, keeping the head-and-shoulders pattern alive as it struggles to clear the neckline in the $64.10-$64.20 range.
The XAG/USD pair trades at $63.60, down over 1.50%, and bears are in control as indicated by the Relative Strength Index (RSI), which is below its 50-neutral level.
On further weakness, Silver's next stop could be the $60.00 area, followed by the head-and-shoulders measure objective at $55.00.