Silver (XAG/USD) struggled to capitalize on the previous day's modest rebound from the vicinity of monthly lows, around the psychological $30.00 mark and attracted some sellers on Wednesday.
The white metal remained pressured through the first half of the European session and is currently trading just below mid-$30.00s, down nearly 0.30% for the day.
From a technical perspective, the recent failure near the $32.35 horizontal resistance and a subsequent fall back below the 100-day Simple Moving Average (SMA) favors bearish traders.
Moreover, oscillators on the daily chart are holding in the negative territory and away from the oversold zone, suggesting that the path of least resistance for XAG/USD is to the downside.
Source: FXStreet
