Precious metals have taken a toll as the greenback made a comeback. Silver is trying to hold on to its near-year-long rising trendline, and a successful bounce could resume the uptrend.
The double dip on the line (25.80) is a serious test of the buyers’ commitment. However, an RSI divergence showing a loss in the bearish momentum may give the buy-side an edge.
A rebound will need to lift offers around 27.00 to gain traction. Failing that, the price could start to reverse.