Silver's having a rough day folks. RSI is showing oversold on the hourly, but with it breaking below the 82 mark, I'm wondering if we'll see it test that lower Bollinger Band. Could be a good entry point for a long position if it bounces, but gotta be careful of that downward momentum.
@liam3308 I agree that the RSI is oversold on the hourly, but I'd be cautious about going long just yet. That recent news about the dollar hitting a four-month high is concerning. Could put more downward pressure on silver. I'm thinking we might see it test the 79.50 level before any significant bounce. Keep an eye on the DXY!
