<\/p>\n
\n Share:<\/span><\/p>\n Silver<\/a> (XAG\/USD) traded in a narrow range around $24.50 in Tuesday\u2019s European session. The white metal has struggled to find a direction since Friday\u2019s trading session. The asset is expected to break out of its sideways trend after the release of the United States<\/a> Consumer Price Index (CPI) data for February, which will be published at 13:30 GMT.<\/p>\n The monthly headline inflation is forecasted to have risen by 0.4% from 0.3% in January. In the same period, the core inflation that strips off volatile food and energy prices is anticipated to have grown at a slower pace of 0.3% against the prior reading of 0.4%. For annual figures, economists expect that the headline CPI<\/a> remains sticky at 3.1% and the core inflation decelerates to 3.7% from 3.9% in January.<\/p>\n The market expectations for the Federal Reserve (Fed) rate cuts in the June policy meeting will be significantly influenced after the release of the inflation data.<\/p>\n Ahead of the US consumer price inflation data, market sentiment<\/a> is quite bullish. S&P 500 futures have posted significant gains in the London session, portraying the higher risk appetite of the market participants. 10-year US Treasury yields have dropped to 4.10%. The US Dollar Index<\/a> (DXY) trades inside Monday\u2019s trading range around 102.80.<\/p>\n Silver price turn sideways after testing the horizontal resistance plotted from December 22 high at $24.60. The overall trend is bullish, however, a time correction move is expected before a fresh upside move. Advancing 20-day Exponential Moving Average (EMA) near $23.50 indicates that the near-term demand is upbeat.<\/p>\n The 14-period Relative Strength Index (RSI) oscillates in the bullish range of 60.00-80.00, indicating that a bullish momentum is already triggered.<\/p>\n\n
Silver technical analysis<\/h2>\n
Silver daily chart<\/h3>\n