WTI Price Forecast: Clings to modest gains above $96.00 as US-Iran peace hopes cap upside
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some dip-buyers during the Asian session on Tuesday, reversing a part of the previous day's heavy losses to the $94.30 area, or an over two-week low.
Silver (XAG/USD) experiences renewed selling pressure on Tuesday, reversing Monday's recovery gains and nearing its lowest level since November 2025. The metal trades just above the $49.00 mark, down 2.75% for the day. From a technical standpoint, XAG/USD remains below the 100-hour Exponential Moving Average (EMA) at $51.40, with the Moving Average Convergence Divergence (MACD) slipping into negative territory and the Relative Strength Index (RSI) hovering around 28, indicating oversold conditions.
Bearish traders may wait for a sustained break below the $49.00 level before placing fresh bets and positioning for further downtrend extension. If the metal recovers and clears the $50.00 psychological barrier, a short-covering rally could follow, potentially lifting XAG/USD beyond the $50.35 intermediate hurdle toward the $51.00 mark.
The 100-hour EMA at $51.40 acts as a key resistance level, and a reclaim would ease bearish pressure, opening the door to a more sustained recovery. Silver, a precious metal used as a store of value and hedge during inflation, is influenced by factors like geopolitical events, interest rates, USD strength, and industrial demand.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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