Silver Short Term: Watching for a Trigger Above Resistance

Silver (XAG/USD)
+0.397+0.61%
Rebound towards 69.78
image
Our pivot point is at 51.54.

Our preference: Rebound towards 69.78

Alternative scenario: below 51.54, expect 44.51 and 40.32.

Comment: The chart structure suggests the instrument is coiling ahead of a potentially significant move.

Supports and resistances:
73.97 *
69.78 **
65.58
64.74 last
51.54 **
44.51 *
40.32 **

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.
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