Silver declined in its latest intraday trading after the price managed to unwind its oversold conditions on the relative strength indicators. These indicators have now begun to show a negative crossover, which could increase the likelihood of further declines in the near term.
This comes amid continued negative pressure resulting from trading below EMA50, which acts as dynamic resistance, reinforcing the dominance and stability of the main short-term bearish trend, with the price moving alongside a trend line supporting the bearish scenario in the near term.
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