The price of silver (XAG/USD) continues to demonstrate strong bullish control and remains within a high range, even breaking a new record high above $69.00. This increase is supported by strong buying momentum, maintaining the dominant uptrend and maintaining high market interest in silver.
However, there is a slight caveat as the Relative Strength Index (RSI) indicator is already in the overbought area on the hourly and daily charts. This means that while the overall trend remains up, there is a possibility of a correction or temporary pause before the price rises further. Overall, the technical structure still supports the continuation of the uptrend, but buying at the current price requires greater caution. (asd)
The price of silver at the time of this analysis was released was $68,573.
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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