Silver reversed an Asian session decline to the $32.00 range and climbed to the upper end of its intraday trading range in the last hour. The white metal is currently trading around the $32.35-$32.40 region, virtually unchanged throughout the day, although still well below its highest level since late October reached last Friday.
Looking at the broader picture, XAG/USD – barring a couple of knee-jerk spikes – has been oscillating in a familiar range for the past two weeks or so.
Against the backdrop of a strong uptrend this year, this may still be categorized as a bullish consolidation phase. Moreover, positive oscillators on the daily chart suggest that the path of least resistance for the commodity is to the upside.
Source: Newsmaker.id
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