Wed, May 05, 2021 @ 23:50 GMT
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XAG/USD Bounces Off Ascending Trendline

A softer US dollar is exactly what commodity traders have been waiting for. Silver is looking to safeguard its gains after the latest pop above the resistance at 26.40.

An over-extended RSI was followed up by profit-taking in the supply area. However, a nascent rising trendline hints at buyers’ strong interest in bidding up the price.

A reversal is in the making if the price action succeeds in staying above 25.80.

A bullish breakout above 26.90 could trigger a broader rally into the 28s.

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