Silver Price Outlook: May Keep Trading Higher However, with Lower Momentum

From dailyfx.com

Yesterday, Silver price continued towards new multi-month high and climbed to $16.65 . However, today the precious metal has rebounded from the same level slowing down the current uptrend. The Relative Strength Index (RSI) fell today from 79 to 73 indicating the buyers would need more momentum to keep rallying the price. Looking at the daily chart we notice on Monday Silver returned back to the trading zone $16.25 – $16.83 and currently eyes a test of its high end. Hence, a close above the high end could push the price towards $17.24. Nonetheless, the resistance area highlighted on the chart (zoomed in) would be ... (full story)