Silver price drops back from $34 and Brent crude price edges lower
Silver is still struggling to clear $34, while Brent crude is quiet after two see-saw trading sessions.
Silver
Silver has spent the past week butting up against $34, but sellers are making another attempt to push the price lower in early trading.
The uptrend from January is intact, and we could see the beginning of a short-term pullback within the rising market, perhaps dropping back towards the $32 level. Having created a higher high, the price has secured the uptrend for the time being.
Silver daily chart
Brent
Brent crude oil shrugged off Tuesday’s slump and rebounded yesterday, though it has struggled to push higher in early trading. Given the ongoing downtrend in crude, a reversal is still a distinct possibility, and a close back below $70 would hand the initiative to the sellers.
Brent crude oil daily chart
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