Silver (XAG/USD) prices remained stable near $30.50 per troy ounce during Asian trading hours on Wednesday (11/27). Daily chart analysis suggests a possible shift in momentum from bearish to bullish as the currency pair has been moving down along the upper boundary of a descending channel pattern.
However, the 14-day Relative Strength Index (RSI) is currently below the 50 level, indicating a prevailing bearish sentiment. Furthermore, the XAG/USD currency pair remains below the 14- and nine-day Exponential Moving Averages (EMA), which signal a bearish outlook and indicate weakening short-term price momentum. This indicates weak buying interest and potential for further price declines.
Source: Newsmaker.id
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