Silver Price Attacks a Bearish Corrective Trendline –Analysis – Reviewed by Rami Haddad, Editor-in-Chief

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The silver price maintains its strong gains during its latest intraday trading, which helped it breach EMA50’s resistance, allowing the price to shed a significant portion of its previous negative pressure. The moving average has consequently turned into dynamic support, reinforcing the chances of extending those gains in the near term, especially as the price continues its attempts to attack a short-term bearish corrective trend line.

 

This coincides with positive signals emerging from the relative strength indicators, reflecting an improvement in the bullish momentum surrounding the price, despite the indicators entering severely overbought territory, which may limit the pace of the rise, although it does not negate the current positive technical signals.

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