Silver strengthens as the US dollar’s sell-off continues after the Fed’s cautious tone on inflation. The precious metal has come to rest after reaching the major resistance (26.60) on the daily chart.
The bullish MA cross is an indication of strong buying interest. A breakout above that resistance would confirm the bullish bias and send the price to 28.20.
On the hourly chart, sentiment remains upbeat as long as the price action stays above 25.70.
A bearish breakout could extend the correction towards 25.20.
