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Silver prices recorded a modest intraday rise, retesting the key resistance level at $32.70. This movement coincides with the price approaching the resistance of the 50-day Exponential Moving Average (EMA50), indicating a potential turning point in the short term.
Despite the temporary rebound, silver continues to trade along a medium-term bearish bias line. Moreover, the Relative Strength Index (RSI) is beginning to flash negative signals after reaching overstretched overbought levels. These technical indicators suggest increasing downside pressure, which may limit silver’s ability to sustain further gains without a significant catalyst.
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