Silver Surges Past Key Support, But Bearish Pressures Persist
The Silver price has seen sharp gains in its latest intraday trading, reaching our morning target of $62.60. This move is significant as it breaks a main bullish trend line on the short-term basis.
The negative and dynamic pressure due to trading below EMA50 has reduced, but the emergence of negative signals from relative strength indicators after reaching an overbought level has tempered this optimism.