Commodities
Silver Prices Hold Support at $59.84 Amid Ongoing Bearish Momentum
Silver (XAG) prices have been experiencing ongoing caution across short-, medium-, and long-term trends. The current price of $60.9 reflects a modest intraday decline, with the metal trading below its key moving averages.
Technical indicators suggest a mild sell bias, but oscillator and momentum readings lack alignment. The Relative Strength Index (RSI) is steady at 48.04, while the Moving Average Convergence Divergence (MACD) remains in negative territory.
The Ichimoku Kijun level at $61.15 currently acts as immediate resistance for any attempts at recovery. Analysts note that a potential drop below $59.84 could trigger further selling in the near term.