Silver price retreats during the North American session on Monday by nearly 1%, after reaching a daily high of $78.20. Overall US Dollar (USD) strength amid thin volume trading as US financial markets remained closed, keeping the white metal within familiar levels, yet down below the 50-day Simple Moving Average (SMA) at $79.45. XAG/USD Price Forecast: Technical outlook: Following the formation of a ‘bearish engulfing’ candle pattern that drove Silver prices from around $83.70 towards the $75.00 area, XAG/USD continued to exchange hands within the $75.00-$80.00 range during the last two trading sessions. (full story)