Silver remains under bearish pressure, trading below the $60 psychological threshold as technical indicators signal further potential declines.
Silver is currently facing sustained bearish pressure as sellers maintain control following a decisive break below the $60 psychological support level. Despite a broader market trend of easing US Dollar strength and declining Treasury yields, the asset's technical indicators, specifically the RSI drifting toward oversold territory, suggest that the downward momentum remains intact.
The trend is bearish, characterized by sellers maintaining control after falling below the $60 mark.
The Relative Strength Index (RSI) is currently drifting toward oversold territory, indicating significant downward pressure.
Silver (XAG/USD) continues to face downward pressure despite a softening US Dollar and declining Treasury yields. Technical indicators, including the Relative Strength Index, suggest sellers maintain control as the metal drifts toward oversold territory.
Silver is currently bearish, having broken below the $60 psychological support level with technical indicators pointing toward further downside.