Last week, Silver reached a new all-time high, almost touching my $55 target.
However, on Friday, the market delivered a powerful sell-off, with the price dropping by around 4,000 pips — from the $54.50 ATH down to the $50.50 support zone.
At this stage, I expect the price to stabilize and form a temporary base of consolidation.
My focus now shifts to the $53.50 resistance zone, which could act as a short-term decision point.
If I observe signs of weakness or rejection in that area, I’ll consider short positions, targeting a potential retest of the $50 support zone.
However, on Friday, the market delivered a powerful sell-off, with the price dropping by around 4,000 pips — from the $54.50 ATH down to the $50.50 support zone.
At this stage, I expect the price to stabilize and form a temporary base of consolidation.
My focus now shifts to the $53.50 resistance zone, which could act as a short-term decision point.
If I observe signs of weakness or rejection in that area, I’ll consider short positions, targeting a potential retest of the $50 support zone.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.