Bullion’s rise as the US dollar retreats ahead of the release of inflation data. A bullish MA cross on the daily chart is a sign that sentiment could be turning around.
Silver is testing the September high of 24.80. A bullish breakout would trigger an extended rally towards 26.00. However, the RSI’s double top in the overbought area has held buyers back as the market awaits new catalysts.
A combination of profit-taking and fresh selling could drive the price lower. The base of a previous breakout at 23.70 would be a support.
