Bullion’s struggle as US bond yields rises amid hawkish Fed comments about a taper in the fourth quarter.
Silver’s latest rally may turn out to be a dead cat bounce as sentiment remains extremely cautious. Price action is grinding down along the moving averages.
24.35 is now the new resistance. Sellers would be eager to dump at a better price before the RSI goes oversold again.
The psychological level of 22.00 from last November would be a critical test of the rally from March 2020.
