Silver Price Forecast: Silver (XAG/USD) trades at $62, showing a corrective reaction, as the last two days’ rally was looking overextended. The 4-hour Relative Strength Index (14) is pulling back from overbought levels but remains in bullish territory, and the Moving Average Convergence Divergence (MACD) indicator is above zero, all in all showing that buyers retain control.
Bullion
Gold Technical Analysis: Sellers Dominate Below Key Moving Averages – Technical Analysis Today
Gold Technical Analysis: Gold prices are currently facing strong selling pressure in the market. The trend shows that sellers are still dominating, especially as the price stays below important moving averages. This indicates a weak bullish sentiment and a possible continuation of the downward trend in the short term.
Gold Weekly Forecast: Bullion Depends on US T-bond yields
Gold Weekly Forecast (Bullion): There won’t be any significant macroeconomic data releases at the start of the week but several members of the FOMC, including Chairman Powell, will be delivering speeches on Monday and later in the week.