Silver trades below 50-day SMA at $31.37; $30.84 support is key for preventing deeper pullback. Bearish momentum persists with RSI in seller’s territory, favoring near-term downside. A close above $31.50 needed for bullish recovery, targeting $31.75 and potentially $32.00. Silver retreated from two-day highs of $32.00 and tumbled below the 50-day Simple Moving Average (SMA) at $31.37 late in the North American session. This was weighed down by a strong US Dollar underpinned by former President Donald Trump’s victory. At the time of writing, the XAG/USD trades at $31.29, down 2.29%.