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iNVEZZ.com reported that after “finishing last week in the red, notching up its fourth consecutive weekly loss,” silver has continued to fall today.
iNVEZZ.com reported that after “finishing last week in the red, notching up its fourth consecutive weekly loss,” silver has continued to fall today.
Unfortunately for fans of the white metal, last week marked its longest losing streak since the four months ended November 24, 2013.
As quoted in the market news:
At 07:25 BST, September silver futures on the New York Mercantile Exchange (NYMEX) were down six cents to $19.87 a troy ounce, after shedding more than 1.9 percent last week. The price was below its 50-day, 100-day and 200-day simple moving averages (SMAs), while its 14-day relative-strength index (RSI) stood at 36.11. An RSI reading below 30 is interpreted as a sign the underlying instrument has become oversold, according to some technical analysts.