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Silver Price Forecast: XAG/USD remains close to multi-year top; bulls retain control near $48.30
Silver (XAG/USD) regains positive traction following the previous day's modest pullback and climbs to the $48.30 region during the Asian session on Wednesday. Moreover, the white metal remains within striking distance of its highest level since April 2011, touched earlier this week, and seems poised to appreciate further. The recent move up witnessed over the past two weeks or so, along an ascending channel, points to a well-established uptrend and validates the positive outlook. However, the daily Relative Strength Index (RSI) is holding above the 70 mark, pointing to still overbought conditions and warranting some ... (full story)
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