Silver Soars 2% on 'Double Bottom' Breakout, Eyes YTD Highs Silver prices have surged over 2%, breaking through key resistance levels and confirming a ‘double bottom’ chart pattern. This bullish momentum, fueled by weaker-than-expected US inflation data, has pushed the XAG/USD to $31.40, a six-week high. The breakout above the $30.73 neckline has opened the door for further gains, with potential targets at $31.75, $32.00, and the year-to-date high of $32.51. The Relative Strength Index (RSI) supports this upward trend. However, key support levels at $31.00, $30.73, and $29.82/79 remain crucial for potential pullbacks. This price action has reignited discussions about potential Federal Reserve monetary policy easing. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Powell's Testimony Suggests Softening of Controversial Bank Capital Proposal READ MORE Dollar's Dominance Under Scrutiny: Morgan Stanley's Perspective READ MORE Heraeus Outlines Four Bullish Indicators for Gold's 2024 Outlook READ MORE US Housing Market Shows Life, Yet Overvaluation Clouds Recovery, Fitch Reports READ MORE Biden's Exit Sparks Market Uncertainty, Gold Prices Respond READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment