Silver Intraday: Rebound or deeper decline ahead?
Silver (XAG/USD)
-0.949-1.45%
The downside prevails as long as 66.36 is resistance, with 63.67 and 63.04 as targets
Our pivot point is at 66.36.
Our preference: The downside prevails as long as 66.36 is resistance, with 63.67 and 63.04 as targets
Alternative scenario: above 66.36, look for 67.43 and 68.07.
Comment: Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.
Supports and resistances:
68.07 **
67.43 *
66.36 **
64.56 last
63.67
63.04 **
62.41 *
Our preference: The downside prevails as long as 66.36 is resistance, with 63.67 and 63.04 as targets
Alternative scenario: above 66.36, look for 67.43 and 68.07.
Comment: Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.
Supports and resistances:
68.07 **
67.43 *
66.36 **
64.56 last
63.67
63.04 **
62.41 *
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