Commodities
Silver Price Slumps on Stiff Resistance Near $70.00
The silver price has hit a snag at $70.00, with traders taking profits after a sharp rally.
The Relative Strength Index (RSI) on the daily chart has retreated from overbought territory, signaling that buying pressure is waning.
Immediate support is now seen at the $68.50 level, followed by the $67.00 area.
A decisive break below the latter could open the door for a deeper correction towards the 50-day moving average, currently situated near $65.80.