Silver traded near $77.00 on Monday, posting small losses and staying close to last week’s low around $74.50. Price action has been choppy for weeks, with the downward trend from late January highs still in place. Precious metals did not gain support from a weaker US Dollar, and trading was quiet. Volumes were lower as many Asian markets were shut for Lunar New Year, and US markets were also closed for President’s Day. In the 4-hour chart, XAG/USD was at $77.09 and below the falling 50-period SMA, which sits near $80.00. The MACD histogram stayed negative, while RSI was 43. Support is near $74.40, with the next level ... (full story)