- Silver is extending four-day winning streak.
- Silber is nearing key 50-hour MA hurdle of $16.186.
Silver is solidly bid for fifth striaght day and is currently trading at $16.11, the highest level since Feb. 20.
The 14-day relative strength index (RSI) is now hovering at 73.66, the highest level since January, meaning the precious metal is most overbought in six months.
As a result, the bulls may take a breather around the 50-month moving average, currently at $16.186.
It is worth noting that the Silver bulls have repeatedly struggled to force a convincing monthly close above the 50-month MA since July 2016.
Hence, a monthly close above that average is needed to confirm a long-term bullish breakout.
Daily chart
Monthly chart
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Trend: Bullish
Pivot levels
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