Silver Price Plummets to 30.90 as Bearish Momentum Takes Over
Silver Price Declines After Breaking Important Support Levels
Silver prices (XAG/USD) continue their downturn, trading around $30.90 per troy ounce during the Asian trading hours. This follows a significant decline that extended losses over the past two sessions.
Recent daily chart analysis highlights a troubling shift from a bullish to a bearish momentum, particularly after the pair broke below a previously ascending channel pattern. Such movements indicate increased selling pressure in the silver market.
As traders adjust their strategies, the future direction of silver prices will depend heavily on market sentiment and external economic influences.
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