Silver (XAG/USD) has broken a strong support level and is now in a retracement phase, where the previous support is acting as a resistance and supply zone. The market is showing signs of a bearish continuation, targeting the lower support levels.
Key Levels & Expectations:
Sell Zone (32.350 - 32.400 Area)This zone acted as resistance, causing a strong rejection.
A retest of this zone could provide additional shorting opportunities.
First Target – 32.12025 (Support Level)
Second Target – 31.92638 (Next Major Support)
Final Target – 31.70380 (Strong Support Zone)
This level could trigger potential buying interest.
note: If price closes above the Sell Zone (32.400), it may indicate bullish strength, invalidating the bearish outlook.
A break above this zone could lead to further upside movement.
Key Levels & Expectations:
Sell Zone (32.350 - 32.400 Area)This zone acted as resistance, causing a strong rejection.
A retest of this zone could provide additional shorting opportunities.
First Target – 32.12025 (Support Level)
Second Target – 31.92638 (Next Major Support)
Final Target – 31.70380 (Strong Support Zone)
This level could trigger potential buying interest.
note: If price closes above the Sell Zone (32.400), it may indicate bullish strength, invalidating the bearish outlook.
A break above this zone could lead to further upside movement.
Trade closed: target reached
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Join My Telegram Channel for Signals and Technical Charts
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
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Contact: t.me/Pipsviewadmin
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.