Silver extends its short-term rebound, pushing towards the 20-day Exponential Moving Average (EMA) near $37.50 as of Tuesday. This move marks a continuation of the two-day recovery, but caution is warranted.
The 14-day Relative Strength Index (RSI) hovers around the neutral 50.00 level, indicating a lack of clear momentum in either direction — a typical sign of potential breakout buildup.
On the downside, immediate support rests at the June 24 low of $35.28, which could attract buyers if price pulls back. On the upside, bulls will face a critical resistance zone near the June 30 high at $38.25 — a break above here could open the path for stronger upside moves amid volatility.
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