SILVER - Potential Short Setup at Key Resistance Level

Jan 29

XAGUSD is currently testing a key resistance level, presenting a potential sell opportunity. If price fails to break above and holds below this resistance, a downward move towards 30.61800 could be expected.

A rejection at this level—confirmed by a bearish candlestick pattern or strong selling pressure—would strengthen the bearish outlook. Traders should watch for signs of failure to break resistance, which would support the short position. However, if the price breaks and closes above resistance, the bearish scenario would be invalidated, and the bias would shift to the upside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments.

Best of luck , TrendDiva

Jan 29

Trade active

Jan 29

Trade closed: target reached

Target reached.