Silver’s Critical Test: Can the $50 Level Hold?

The Federal Reserve has cast a chill over the precious metals market. Silver prices experienced a sharp downturn following the release of the October FOMC meeting minutes, pushing the white metal into a decisive battle at the psychologically significant $50 threshold. As expectations for accommodative monetary policy fade, investor appetite has diminished. Is the recent upward trend already in jeopardy?

From a chart perspective, silver has been flashing cautionary signals for days. A classic double-top formation around the $54.50 level indicates buyer exhaustion. After failing to reclaim the $52 level, bearish sentiment took control of the market.

The critical support zone now lies between $49.00 and $49.50. As long as this area holds, Read more...