Silver prices saw a decline in the latest intraday trading as the metal searches for a bottom that could provide the necessary momentum for a rebound. The price is currently testing the key support level at $34.00.
Despite the recent pullback, the overall upward trend remains intact. Silver is trading above the 50-period simple moving average (SMA), indicating positive short-term pressure. Additionally, a positive divergence is forming in the Stochastic oscillator, signaling potential for a reversal as the metal reaches oversold levels relative to its price movements.
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