The CME Silver future is down to $21.2 per troy ounce, after ending Friday at $21.24. Overall, a 0.2% loss or 4.3 cents today.
Japanese candlestick formations show a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal.
In the meantime, negative performances are also seen in other Metals as after ending Friday's session at $4.07, Copper lost 6.7 cents and is trading around $4. Platinum is down to $969, losing $10.4, after closing at $979.4 in the preceding trading session. Palladium closed at $1,410.5 (down 1.45%).
Furthermore, United States Fed Chair Powell testimony set for tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook will be released tomorrow at 17:00 UTC.
The commodity has been trending lower for about a month. So far this year, CME Silver has declined 12.35% while touching highs around $26.89 earlier this year.