Silver prices have shown signs of stabilization, with a slight dip observed during recent intraday trading. This pullback follows a series of gains, offering a much-needed respite to address overbought conditions, as highlighted by the Relative Strength Index (RSI). Negative signals are emerging, but the overall momentum remains positive, positioning silver for a potential breakout above the current resistance level of $32.00.
The metal continues to follow a short-term bullish correction, underpinned by a steep upward slope line that suggests strong upward movement. Silver’s ongoing performance above its 50-day Exponential Moving Average (EMA50) further reinforces the bullish outlook, keeping expectations high for continued price appreciation.
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