XAG/USD Bounces Off Rising Trendline

Jitters in US Treasury yields put a cap on bullions’ advance. Silver has been grinding up along a rising trendline since late March.

The breakout above 28.30 has put the psychological level of 30 in buyers’ line of sight. This is an indication that the bulls are still in charge.

A rally back above 28.20 would bring in momentum and turn what looks like a short-term recovery into the continuation of the medium-term uptrend.

As the price tests the trendline (27.50), a neural RSI may attract more bids.

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