Silver exits long-term range

From xm.com

Silver advanced to a two-year high of 26.54 on Wednesday, finally breaking the wide consolidation phase that started in May 2023. The spotlight is currently on the 2022 high of 26.93, however, Tuesday’s close above the upper Bollinger band implies a lack of strong bullish momentum. The RSI and the stochastic oscillator are also signaling a pause or a potential downside correction, as the indicators have entered their overbought areas. On a positive note, the market appears to have finished forming an inverse head and shoulders pattern in the overall view, which is more apparent when looking at the weekly chart. ... (full story)