Silver (XAG/USD) dropped to a fresh one-week low near $50.00 during Friday's early European session after breaking below the $51.00 support level. Technical indicators, including an RSI of 37.64 and a MACD reading of -0.21, suggest continued downside pressure as the metal struggles to overcome the 100-period EMA at $52.86.
Silver dropped to a fresh one-week low near $50.00 after breaking below the $51.00 range floor, with bearish RSI (37.64) and negative MACD (-0.21) on the 4-hour chart signaling continued downside pressure. The $49.00 support and the year-to-date low around $48.60-$48.55 are the next downside targets, though not-yet-oversold RSI suggests room for further decline.
- ▼ Breakdown below the $51.00 lower boundary of the one-week-old trading range
- ▼ Repeated failures to break the 100-period EMA ($52.86) on the 4-hour chart
- ▲ RSI not yet oversold means decline could slow if it drifts lower
- ▲ Silver trades nearly unchanged around the $50.00 mark, showing a lack of follow-through selling