XAGUSD 14 Jun 2024 On the daily timeframe, XAGUSD (silver) has continued to decline since the end of last month after bouncing down when it touched the resistance line. Despite several bullish trend reversals, the bearish trend still seems to be more dominant. Currently, silver is at a price position of 28.923 and is still above the kumo cloud, indicating that the long-term bullish trend is still intact. However, the stochastic indicator shows that silver is below the 20 level, signaling an oversold condition. This could indicate a potential trend reversal in the near term if selling pressure begins to ease. Traders should look out for additional confirmation signals before making trading decisions.
