Commodities
Silver Traders Eye US PCE Data as Price Struggles Below $70
Silver prices continue to hover below the $70.00 psychological mark as traders await the release of the US Personal Consumption Expenditures (PCE) Price Index.
The white metal has been struggling to break through this level, with its price movements characterized by two-way action in the first half of the European session on Wednesday.
Despite maintaining a bullish near-term bias following last week's breakout above $66.55-$66.60 horizontal resistance, silver's upside momentum is waning, as indicated by the Moving Average Convergence Divergence (MACD) indicator being below zero with a slightly negative reading.