Silver declined in its last intraday trading, affected by increasing selling activity that pushed the price back to the bearish trend, with the continuation of the buying momentum weakness, and the market is unable to sustain its previous recovery attempts.
This performance comes as the relative strength indicators begin to show a bearish crossover after reaching excessively overbought levels, this suggests forming a bearish divergence, which could intensify selling pressure in the upcoming sessions. Meanwhile, silver continues to trade below the EMA50, which reinforces the main short-term bearish trend, keeping the likelihoods of recording more losses valid unless clearer technical signals emerge to support the trend reversal.
continue to consolidate after a sharp corrective decline from the June 17 high near 69.92, with prices currently trading around 58.35. The market has stabilized...
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