Silver is clearly in back foot along with its yellow safe haven counterpart as US Federal Reserve hinted the possibility of a tighter monetary policy at the ned of the year. Explicit mention of the next policy has been a bearish signal for silver, which pulled back from falling resistance line.
Moreover, with return of risk appetite as European Central Bank signaled further monetary easing probably in its December meeting, silver and gold as hedge to portfolio is clearly out of favor.
Technically speaking, Silver after finding resistance around $16.4/ troy ounce area is heading for support check at rising trend line, which has been in place since mid- August and has been tested twice. Finding a support there could lead to another test of bearish resistance line and breaking which might lead silver towards $17.5/troy ounce area.
However, bearish resistance line has been in place since the beginning of the year and won't be an easy one to break.
Silver is currently trading at 15.45/troy ounce.


Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies
Gold's 365-Day EMA Streak Since Oct 2023 Faces Its First Real Test at $3,980 — Break or Bounce to $4,140?
Goldman Sachs: US Dollar Likely to Stay Strong Despite Oil Price Retreat
World Cup technology: from ref cams to AI analysts, cutting-edge research is changing the game
With Iran and the US signing a peace deal, where does that leave Benjamin Netanyahu?
Today’s space race could turn fatal if we don’t agree on new rules
Sell the Bounce": Gold Rally Stalls Near $4165 as Fed Hawks Slam the Door on Rate Cuts — Targets $4000/$3600
AI Memory Boom Sparks Global Chip Supply Crunch
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 



