FX.co ★ Silver breaks to new multi week highs.

Blue line- support trend line

Red lines- bearish RSI divergence

Silver is trading above $24. Medium-term trend is bullish as price continues making higher highs and higher lows since August. Price is now trading at levels not seen since April of 2022. However there are increased chances of a reversal as the RSI is not following price to new highs. The RSI continues to provide lower highs. The bearish divergence by the RSI is an important warning that should not be ignored. This is not a reversal signal, but a warning of a weakening up trend. Support is found at $23.38 and is rising. A break below the blue trend line would be a reversal signal.