Silver quickly turned around on Friday after just breaking the previous low. It followed gold to rebound and rise at night. It has now risen to the key pressure area. If there is no hope of breaking here, the bears will appear again. For silver operation, it is recommended to sell at 20.76, risk control at 20.92, and the target is 20.38~20.26.
Silver is bearish for several reasons: 1. Although silver rebounded on Friday, the upper suppression has not been broken, so there is a risk of retracement under the dual pressure of the channel and the golden section. 2. According to my personal analysis, the rise started at 19.88 on Friday. As for whether the 2-wave retracement is over, it depends on whether the market will fall below the bottom again in the past two days. The possibility of the end of the decline increases. 3. The intraday pressure is 20.87~21.00, supported at 20.38~20.26.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻