Silver Price Analysis: XAG/USD climbs back above $23.00, upside potential seems limited

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Silver Price Analysis: XAG/USD climbs back above $23.00, upside potential seems limited
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Silver attracts some buyers on the first day of a new week, snapping an eight-day losing streak, and climbs back above the $23.00 round-figure mark du

The technical setup supports prospects for the emergence of fresh selling at higher levels.Silver

The negative outlook is reinforced by the fact that oscillators on the daily chart have been gaining negative traction and are away from being in the oversold zone. Moreover, the Relative Strength Index on the 4-hour chart has also recovered from the oversold territory. This, in turn, suggests that the path of least resistance for the XAG/USD remains to the downside.

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