Silver struggles to maintain upward momentum as a stabilizing US Dollar and firming Treasury yields keep the metal within a bearish descending channel.
Silver is currently facing significant selling pressure as it struggles to maintain early-week bullish momentum. The asset's performance is being constrained by the stabilization of the US Dollar and US Treasury yields, which have halted their recent corrective decline, thereby limiting silver's upside potential within its established descending channel.
The pause in the decline of the US Dollar and US Treasury yields is preventing silver from extending its gains.
Silver is currently trading within a descending channel, indicating that sellers remain in control of the market direction.
Silver (XAG/USD) faces renewed selling pressure after failing to sustain early-week gains. The precious metal remains trapped in a descending channel as the US Dollar and Treasury yields pause their recent correction, dampening bullish momentum.
Silver is facing resistance due to the stabilization of the US Dollar and US Treasury yields, which have halted their recent decline and pressured non-yielding assets.