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Silver (XAG/USD) Shuffles Sideways Ahead of Stimulus Announcement

From dailyfx.com

Silver Price Forecast: •Silver price action enthralled by symmetrical wedge. •CCI suggests that Silver may be harboring oversold conditions. •Sentiment remains mixed. Silver prices have continued to trade sideways amid an array of political and fundamental events that continue to weigh on the greenback. After months of negotiations, US president Joe Biden is expected to reveal the size of the highly anticipated Fiscal Stimulus package later today, which once again raises the potential for inflationary concerns; a topic that has been at the forefront of the Federal Reserve since the start of the Coronavirus pandemic. (full story)

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  • Category: Technical Analysis