Silver Price Stuck in Neutral Ahead of Central Bank Decisions

The silver price has begun the week on a subdued note, oscillating within a narrow band above $64.00.

Traders seem hesitant to place directional bets ahead of key central bank event risks, including the US Federal Reserve's rate decision on Wednesday and the Bank of England meeting on Thursday.

The technical setup favors bears, suggesting that the path of least resistance is to the downside.

A sustained move and acceptance above the 200-period Simple Moving Average (SMA) on the H4 chart at $64.91 is needed to negate the negative bias.