As we mentioned in our previous analysis, Silver slowly started to give some signs of a possible reversal. For this week, we expect the price to pullback towards our orange dotted line, and then we will make a decision if we will make another low or not, based on the price action. If not, this may be a simple pullback that will act as a trigger for a future bullish move. Don’t forget that we are in a strong weekly bullish trend and this is only a correction. In the medium-term, we expect the price to reach at least the $35 level. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.