Silver's price stayed firm at around $26.64 after the Fed decided to hold rates unchanged and Powell’s press conference.
Silver stable at $26.64 after Fed holds rates steady, per Chair Powell's data-driven stance. Technicals: Silver rebounds from $26.27 low, eyes $27.00 resistance. Silver hints at bullish trend; breakout above $27.14 could reinforce this. Bearish shift requires silver below $26.13, targeting lower supports. Silver's price stayed firm at around $26.64 after the Fed decided to hold rates unchanged and Powell’s press conference.
For sellers to shift the bias to bearish, they would need to push the spot price below the May 5 high at $26.13, which would pave the way toward $26.00 and below. On the flip side, and the most likely scenario, if XAG/USD achieves a daily close at around the current level, a ‘bullish harami’ and a two-candle chart pattern will form. This usually would be bullish for the asset, but buyers must crack the April 30 high at $27.14, before resuming its uptrend.
XAGUSD Metals Technical Analysis Silver
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