Silver Intraday: Rebound or deeper decline ahead?
Silver (XAG/USD)
+0.066+0.11%
The downside prevails as long as 60.25 is resistance, with 57.54 and 57.22 as targets
Our pivot point is at 60.25.
Our preference: The downside prevails as long as 60.25 is resistance, with 57.54 and 57.22 as targets
Alternative scenario: above 60.25, look for 60.80 and 61.13.
Comment: Prices are now within reach of our first target, a level that could trigger a pullback. On the flip side, a decisive break below it may extend the current decline.
Supports and resistances:
61.13 **
60.80 *
60.25 **
57.78 last
57.54
57.22 **
56.90 *
Our preference: The downside prevails as long as 60.25 is resistance, with 57.54 and 57.22 as targets
Alternative scenario: above 60.25, look for 60.80 and 61.13.
Comment: Prices are now within reach of our first target, a level that could trigger a pullback. On the flip side, a decisive break below it may extend the current decline.
Supports and resistances:
61.13 **
60.80 *
60.25 **
57.78 last
57.54
57.22 **
56.90 *
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
