SILVER PRICE ANALYSIS: XAG/USD RETREATS TOWARD $25.00, FORMS A ‘BEARISH HARAMI’ CANDLE PATTERN
- Silver price dips affected by an uptick in US Treasury yields and a stronger Dollar ahead of the Fed's decision.
- 'Bearish harami' pattern suggests potential declines if support breaks.
- Staying above $25.00 may boost bullish momentum, eyeing $26.00 resistance.
Silver's price dropped toward $25.00 a troy ounce on Monday as US Treasury bond yields rose ahead of the Federal Open Market Committee (FOMC) meeting. The US 10-year Treasury bond yield advance underpins the Greenback, a headwind for the precious metal. Therefore, XAG/USD trades at around $25.03, down by 0.57% at the time of writing.
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