The RSI has just tipped into overbought territory but this does not mean silver's price cannot go higher. It simply means that silver is beginning to be overbought. In very bullish conditions, silver could stay overbought.
I would pay more attention to the MACD which dipped but is once again rising as the 200d MA at US$ 34.92 was overcome by a long white candle. A bullish crossover is observed. Whether higher prices are on the horizon would depend on whether a higher high or a lower high is formed on the MACD.
If we should see a lower high on the MACD when a higher high in price has already been formed, we could be seeing the onset of a negative divergence which would be a precursor of a possible price correction.
Related post:
Silver: Broke resistance provided by the 50d MA.
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