Silver price is demonstrating a sideways auction in the 50-pip range for the past two sessions on an hourly scale. The white metal is showing signs of weakness in the upside momentum, which indicates that a corrective move is on cards. The asset is putting efforts into keeping itself above the 20-period Exponential Moving Average (EMA) at $22.40.
Meanwhile, the Relative Strength Index (RSI) (14) is oscillating in the 40.00-60.00 range, which indicates that investors are awaiting a new trigger for further action.
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