ed its interest rate in November as expected. Market focus now shifts to Chairman Jerome Powell's presser Close alert Silver Price Forecast: XAG/USD trades below $32.50, nine-day EMA NEWS | 11/06/2024 09:25:10 GMT | By Akhtar Faruqui Silver price may depreciate toward the psychological level of $32.00. Immediate resistance appears around the nine- and 14-day EMAs at the $32.83 and $32.84 levels, respectively. The nine-day EMA is aligned with the 14-day EMA; a downward crossover would indicate a weakening of short-term momentum. Silver price (XAG/USD) depreciates to near $32.20 during the European session on Wednesday. The daily chart analysis indicates a potential shift in momentum from bullish to bearish, as the nine-day Exponential Moving Average (EMA) aligns with the 14-day EMA. A downward crossover here would signal weakening short-term momentum. Additionally, the 14-day Relative Strength Index (RSI) is consolidating just below the 50 level, indicating an ongoing bearish bias. However, traders would like to see further movement to gain a clear trend direction for the XAG/USD pair.