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\n Share:<\/span><\/p>\n Silver<\/a> price (XAG\/USD) turns sideways after a vertical upside move to near crucial resistance of $23.70 in the early New York session. The white metal struggles for a direction as the US Dollar Index (DXY) demonstrates a squeeze in volatility after an unchanged interest rate decision<\/a> by the Federal Reserve (Fed) as expected.<\/p>\n The Fed<\/a> delivered a hawkish commentary on interest rates and sees inflation getting controlled in 2026. Interest rates<\/a> are expected to remain lofty long enough\u2019 till the achievement of price stability.<\/p>\n S&P500 opened on a positive note on Friday, portraying some improvement in appeal for risk-sensitive currencies. While the broader bias is bearish as fears of a global slowdown are intact. The USD Index remains choppy despite the subdued preliminary PMI report for September, released by the S&P Global. The 10-year US Treasury yields rebounded sharply to<\/p>\n The Manufacturing PMI landed at 48.0 in line with expectations and slightly higher than the former reading of 47.9. The economic data has been contracting for a long period, a figure below 50.0 is itself considered a contraction in economic activities. The Services PMI, which tracks a sector that accounts for two-thirds of the US economy, dropped to 50.2 vs. expectations of 50.6 and the former release of 50.5.<\/p>\n Silver price trades in a Rising Wedge chart pattern on a two-hour scale, in which pullbacks are considered buying opportunities by market participants till the volatility<\/a> contraction. Upward-sloping 20-period Exponential Moving Average (EMA) at $23.48 indicates that the short-term trend is bullish.<\/p>\n The Relative Strength Index (RSI) (14) shifts into the bullish range of 60.00-80.00, which indicates that the bullish impulse has been triggered.<\/p>\n\n
Silver technical analysis<\/h2>\n
Silver two-hour chart<\/h3>\n