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Silver / U.S. Dollar
Short

"Silver (XAG/USD) 4H Analysis: Potential Reversal

By ranafahadanjum
Silver (XAG/USD) 4H Analysis: Potential Reversal at Key Resistance

  • The price is currently at $30.50150, with a slight drop of 0.05% in this session.
  • A clear downward trend is evident after a period of consolidation, and the price has approached a potential resistance zone between $31.65 and $31.84
  • This resistance area is marked by a yellow box with a red dashed line, indicating a possible reversal point where sellers may step in, as previously observed.

  • The chart indicates a potential short trade setup, with the entry zone shown within the resistance area.

  • The stop-loss would likely be placed above the $31.84 level (the top of the resistance box), while the target could extend down to around $30.26, aiming for a continuation of the downward trend.
Chart PatternsTrend Analysis
ranafahadanjum
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