Silver Holds Steady Near $36 as Risk Appetite Shapes Market Dynamics

 Silver prices are holding stable around $36, indicating that investors throughout the world continue to favor riskier assets such as stocks. This trend has made traditional safe havens such as silver less tempting for the time being, despite their long-term positive outlook.

As of Monday, the spot silver (XAG/USD) market is trading flat, with a critical technical level at $35.40 holding it firm.   This area has remained a reliable floor throughout June, even as traders try to figure out what the Fed’s policy will be and how inflation data will affect the market.   The daily candlestick pattern shows a probable Doji, indicating that neither bulls nor bears are in control of the market.

The 20-day Simple Moving Average of $36.12 represents a technical obstacle for silver.   The Relative Strength Index is close to 55, indicating that the market is neutral with a small bullish bias.   If bulls get their act together and push silver above $36.84, it might test the year’s high of $37.32.   If the market continues to rise, it may return to levels not seen since 2012.

However, if it falls below $35.38, it may indicate more bearish pressure, pushing silver down to the 50-day moving average at $34.21 or even lower, to $33.76, the 38.2 percent Fibonacci retracement level.

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