The price of silver continues to move sideways in the short term. It’s trading at 20.120 at the time of writing and it seems undecided as the traders are waiting for the US data before taking action again. The NFP, Unemployment Rate, and the Average Hourly Earnings represent high impact events and could really shake the price. The Canadian Unemployment Rate and Employment Change could have an impact as well. 

 

Technically, the XAG/USD is trapped between 19.914 and 20.227 levels. Escaping from this pattern could bring us new opportunities. The bias remains bearish despite temporary rebounds or sideways movements, so more declines are still in cards. 

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