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Silver Intraday: Rebound or deeper decline ahead?
Silver (XAG/USD)
+0.007+0.01%
The downside prevails as long as 56.04 is resistance, with 54.08 and 53.54 as targets
Our pivot point is at 56.04.
Our preference: The downside prevails as long as 56.04 is resistance, with 54.08 and 53.54 as targets
Alternative scenario: above 56.04, look for 56.94 and 57.47.
Comment: As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Supports and resistances:
57.47 **
56.94 *
56.04 **
54.76 last
54.08
53.54 **
53.01 *
Our preference: The downside prevails as long as 56.04 is resistance, with 54.08 and 53.54 as targets
Alternative scenario: above 56.04, look for 56.94 and 57.47.
Comment: As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Supports and resistances:
57.47 **
56.94 *
56.04 **
54.76 last
54.08
53.54 **
53.01 *
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.
