XAG/USD...silver trendline break out...MY XAGUSD (Silver) sell trade setup looks like this:
Entry: 33.1840
Stop Loss: 33.7000
Target 1: 31.9075
Target 2: 31.0000
Trade Analysis:
Trend Line Breakout: Indicates potential bearish momentum.
Risk-Reward Ratio:
Target 1 (31.9075): ~1.27 RR
Target 2 (31.0000): ~3.68 RR (solid swing trade target)
Key Levels:
If price breaks below 32.50, it could accelerate downward.
31.9075 could act as interim support before testing 31.00.
If sellers maintain control, this trade has a good downside potential. Are you using any additional confluences, like Fibonacci retracements or moving averages, to confirm the move?
XAGUSDG trade ideas
SILVER Will Go Lower From Resistance! Short!
Take a look at our analysis for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 33.211.
Taking into consideration the structure & trend analysis, I believe that the market will reach 31.952 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Like and subscribe and comment my ideas if you enjoy them!
Silver (XAG/USD) – Rising Wedge Breakdown & Bearish Setup📊 Overview of the Chart
This 4-hour chart of Silver (XAG/USD) provides a classic example of a Rising Wedge Breakdown, a bearish reversal pattern. The price initially followed a strong uptrend, forming a series of higher highs and higher lows, but failed to sustain momentum at the key resistance zone (~$34.00 - $34.50). This led to a breakout to the downside, which has now confirmed a shift in market sentiment from bullish to bearish.
This analysis will break down each key level, the technical indicators supporting this trade setup, and how traders can approach it effectively.
🛠️ Breakdown of the Chart Components
1️⃣ Rising Wedge Formation (Bearish Pattern Identified)
The price action created a Rising Wedge, which is a bearish pattern characterized by an uptrend where the higher highs and higher lows start converging into a narrowing range.
This shows that while buyers were pushing prices higher, their strength was gradually fading.
The breakdown of this structure signaled a loss of bullish momentum, leading to a shift in trend.
2️⃣ Resistance Level & Sell Zone Identified
The resistance level at $34.00 - $34.50 has acted as a supply zone where sellers stepped in, preventing further upside.
A bearish rejection at this zone confirms that sellers are still dominant.
3️⃣ Retest of the Broken Support (Key Confirmation)
After the breakout from the wedge, the price made a retest of the broken trendline, a classic move before further downside.
Retesting this area confirms that it is now acting as resistance rather than support, further strengthening the bearish case.
4️⃣ Trendline Breakout – Shift in Market Structure
The dashed trendline was previously supportive, but now that the price has broken below it, it has turned into a resistance level.
This shift in market structure is a strong bearish signal.
5️⃣ Key Support Levels & Target Projection
The next major support level is at $32.00, a level where price previously found demand.
The ultimate target price is around $31.18, which aligns with historical support and Fibonacci retracement levels.
📉 Trading Strategy – How to Trade This Setup?
✅ Entry Point (Short/Sell Setup)
A good shorting opportunity arises if the price retests the resistance at $33.50 - $34.00 and shows bearish confirmation (like a rejection candlestick or a bearish engulfing pattern).
📍 Stop Loss (SL) Placement
SL should be above $34.20 to avoid getting stopped out by potential fakeouts.
🎯 Take Profit (TP) Levels
TP1: $32.00 (First support level)
TP2: $31.18 (Final bearish target)
📊 Risk-Reward Ratio
Entry at $33.50 - $34.00 with SL at $34.20 and TP at $31.18 provides an excellent risk-to-reward ratio (~1:4).
📌 Market Sentiment & Conclusion
🔴 Bearish signals are dominant, suggesting further downside potential.
📉 A strong bearish move is expected if the price fails to reclaim $34.00.
🎯 Targeting $31.18 in the upcoming sessions.
📢 Final Advice: Traders should watch for confirmation before entering trades. A successful retest and rejection at $33.50 - $34.00 will be a high-probability short setup. 🚀
🔥 Follow price action and risk management principles for a successful trade! 🔥
Silver's Limited Rebound at $33.06Posting a modest rebound after last week’s dip, silver currently trades around $33.06 per ounce. The recovery is limited as easing geopolitical tensions compete with the pressure from a strong U.S. dollar. Demand stays strong due to tariff uncertainty and inflation risks, but weak industrial outlook, mainly from China, and hopes for a Russia-Ukraine ceasefire are limiting silver’s gains. Still, tightening supply and global economic concerns are helping keep silver near five-month highs.
If silver breaks above $33.75, the next resistance levels are $34.05 and $34.85. On the downside, support is at $33.10, with further levels at $32.50 and $32.15 if selling pressure increases.
XAU/USD "Gold vs U.S Dollar" Metals Market Heist Plan🌟Hi! Hola! Ola! Bonjour! Hallo! Marhaba!🌟
Dear Money Makers & Robbers, 🤑💰✈️
Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the XAU/USD "Gold vs U.S Dollar" Metals market. Please adhere to the strategy I've outlined in the chart, which emphasizes long entry and short entry. 🏆💸Be wealthy and safe trade.💪🏆🎉
Entry 📈 :
"The loot's within reach! Wait for the breakout, then grab your share - whether you're a Bullish thief or a Bearish bandit!"
🏁Buy entry above 34.200
🏁Sell Entry below 33.400
📌However, I recommended to place buy stop for bullish side and sell stop for bearish side.
Stop Loss 🛑:
🚩Thief SL placed at 33.400 for Bullish Trade
🚩Thief SL placed at 34.000 for Bearish Trade
Using the 30mins period, the recent / swing low or high level.
SL is based on your risk of the trade, lot size and how many multiple orders you have to take.
Target 🎯:
🏴☠️Bullish Robbers TP 35.400 (or) Escape Before the Target
🏴☠️Bearish Robbers TP 32.800 (or) Escape Before the Target
XAU/USD "Gold vs U.S Dollar" Metals Market Heist Plan is currently experiencing a neutral trend,., driven by several key factors.
📰🗞️Get & Read the Fundamental analysis, Macro Economics, COT Report, Seasonal factors, Sentimental Outlook, Positioning and future trend.....👉👉👉
📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly.
⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏
As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions,
we recommend the following:
Avoid taking new trades during news releases
Use trailing stop-loss orders to protect your running positions and lock in profits
💖Supporting our robbery plan 💥Hit the Boost Button💥 will enable us to effortlessly make and steal money 💰💵. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀
I'll see you soon with another heist plan, so stay tuned 🤑🐱👤🤗🤩
Mon 24th Mar 2025 XAG/USD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a XAG/USD Sell. Enjoy the day all. Cheers. Jim
Bullish bounce?The Silver (XAG/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 32.70
1st Support: 31.91
1st Resistance: 34.46
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
SILVER at Key Support Level – Will Buyers Step In?OANDA:XAGUSD is experiencing a corrective move after rejecting from the upper boundary of the ascending channel. The price has now reached the lower boundary of the channel, aligning with a key demand zone. This confluence of trendline support and horizontal demand increases the probability of a bullish reaction from this level.
If buyers maintain control at this level, we could see a rebound toward the $34.12 level, which aligns with the midline of the ascending channel. This level could serve as a short-term target within the current bullish market structure. However, failure to hold above this support zone could invalidate the bullish outlook and signal further downside.
Traders should monitor bullish confirmation signals, such as rejection wicks, increasing volume, or bullish engulfing patterns, before entering long positions.
If you agree with this analysis or have additional insights, feel free to share your thoughts here!
XAGUSD - Hunting for Bullish Entries on Smaller TFThe Silver/USD 4-hour chart displays a significant retracement from recent highs around $3,420, with price currently rebounding near the $3,300 level. This correction has brought price to test both the ascending trendline and the horizontal support at $3,275 (marked by the red line), creating a potential buying opportunity. Given the overall uptrend structure and the recent bounce from this dual support zone, we need to prepare for finding buy setups on smaller timeframes. Traders should shift to lower timeframe charts (15-minute, 30-minute, or 1-hour) to identify precise entry signals. The price action suggests a potential retest of the upper blue reaction zone after completing the current zigzag correction, as indicated by the directional arrow on the chart. Monitoring these smaller timeframes will help capture optimal entry points with tighter stop-losses while maintaining the broader bullish bias shown on this 4-hour chart.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
SILVER: Bullish Forecast & Outlook
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the SILVER pair which is likely to be pushed up by the bulls so we will buy!
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
❤️ Please, support our work with like & comment! ❤️
SILVERFactors Affecting Silver’s Trade Directional Bias Next Week
Fed Policy and Rate Cuts:
Market Expectations: Two Fed rate cuts in 2025 are priced in, but uncertainty over timing (e.g., June vs. earlier) may cause volatility.
Impact: Delayed cuts → USD↑, silver↓; Accelerated cuts → USD↓, silver↑.
Industrial Demand:
Supply-Demand Imbalance: A projected 149M oz deficit in 2025 due to high demand for solar, electronics, and EVs.
Supply Risks: Q1 production growth (+15.4% YoY) has eased short-term pressure, but long-term deficits support prices.
Safe-Haven Demand:
Geopolitical Risks: Trade wars (Trump’s April 2 tariffs) and Middle East tensions could boost silver as a hedge.
Gold’s Influence:
Gold-to-Silver Ratio: At 88:1, below historical peaks, suggesting silver may outperform gold if the ratio normalizes.
Conclusion
Bearish Bias Likely Next Week:
Resistance Test: Silver faces strong technical resistance at overbought territory, favoring profit-taking.
Fed Uncertainty: Delayed rate cuts or USD strength could pressure prices toward $32.50.
Upside Catalysts: A break above strong supply roof or geopolitical escalation (tariffs) may trigger a rally to a new all time high
Silver (XAG/USD) – Rising Wedge Breakdown & Bearish Setup📌 Overview
This 1-hour chart of Silver (XAG/USD) presents a textbook Rising Wedge pattern, which is known as a bearish reversal signal. The price was in a strong uptrend but started showing signs of buyer exhaustion, leading to a breakdown from the wedge formation.
The chart clearly identifies:
✅ A Rising Wedge formation
✅ Resistance Level where price faced multiple rejections
✅ Breakdown Confirmation and shift in trend direction
✅ Projected Target & Stop Loss Zones
This setup suggests a strong potential for further downside movement in silver prices. Now, let’s break it down step by step like a professional trader.
🔹 Key Technical Analysis Breakdown
1️⃣ Rising Wedge Pattern – The Bearish Setup
The Rising Wedge is a bearish reversal pattern that forms when price action moves higher within two converging trendlines. The slope of the lower trendline is steeper than the upper trendline, meaning that buyers are getting weaker.
This pattern suggests that even though the price is rising, bullish momentum is fading.
Once the price breaks below the wedge, it confirms a bearish trend.
🔸 Characteristics of this Wedge:
📌 Multiple Higher Highs & Higher Lows – But with decreasing strength
📌 Narrowing Price Action – Indicates weaker buying power
📌 Breakdown Below Support Line – Confirms the bearish move
2️⃣ Resistance Level – Key Price Rejection Zone
The price tested the Resistance Level multiple times before breaking down. This area is where sellers overpowered buyers, preventing further upside movement.
The resistance zone was a liquidity area, meaning large institutional traders likely placed sell orders here.
The price attempted to push higher but failed, showing that demand was exhausted.
Once rejection happened, selling pressure increased, and the breakdown followed.
3️⃣ Breakdown Confirmation – Bearish Momentum Kicks In
After the wedge broke down, the price started moving in a structured downtrend, forming lower highs and lower lows. This confirms that the breakdown was valid and that the trend has shifted.
🔹 Signs of Breakdown Strength:
✅ Strong Bearish Candles – Indicating aggressive selling
✅ No Immediate Recovery – Suggests sellers are in control
✅ Lower Highs Forming – Bearish trend structure confirmed
4️⃣ Risk Management – Stop Loss & Target Zones
A well-planned trade must include a Stop Loss and a Target to manage risk effectively.
📌 Stop Loss Placement (33.95)
Placing a Stop Loss just above the resistance level protects against false breakouts.
If the price goes back above 33.95, it would invalidate the bearish setup.
📌 Profit Target (31.96)
The target is based on the measured move projection, meaning the expected price drop is equal to the height of the wedge at its widest point.
If the price reaches 31.96, traders can lock in profits.
📌 Risk-Reward Ratio (RRR)
The setup offers a favorable risk-to-reward ratio, making it a high-probability trade.
5️⃣ Expected Price Movement – Bearish Outlook
From here, we can expect the following price movement:
📉 Scenario 1: Continuation of Downtrend (High Probability)
The price will likely form lower highs and lower lows on its way to 31.96.
Each small rally should be met with selling pressure.
📈 Scenario 2: False Breakdown (Low Probability but Possible)
If the price moves back above 33.95, the wedge breakdown will be invalid.
This could lead to a bullish reversal instead.
6️⃣ Final Thoughts – How to Trade This Setup?
This Rising Wedge Breakdown provides an excellent short-selling opportunity. Here’s how a professional trader would approach it:
✅ 🔹 Entry Strategy:
Short after a retest of the broken wedge support
Confirmation of lower highs ensures trend continuation
✅ 🔹 Risk Management:
Place Stop Loss above 33.95
Take profits around 31.96
✅ 🔹 Confirmation Signals to Watch:
Lower highs forming after breakdown
Increased selling volume on bearish candles
Price respecting the downtrend structure
🔔 Conclusion – Bearish Bias Confirmed
🔻 Trend Shift: The breakdown signals a potential trend reversal in silver.
🔻 Bearish Targets: The price is expected to fall toward 31.96 in the coming sessions.
🔻 High-Probability Trade: Strong technical reasons support a bearish outlook.
🚨 Watch for further confirmations and manage risk effectively! 📊💰
SILVER $70.00My silver 5 year / 1 Week Chart!
Silver will rise to the resistance line at $35
If it breaks it resistance line at $35
The next resistance trendline is around $37.50
If it breaks the resistance trendline around $37.50
It could blast around $70.00 lol
I am making monthly videos on YouTube
I called this move 2 months ago!
I forgot to upload my idea on tradingview :(
Tradingview blocked my last silver idea 6 days ago for putting my youtube links! lol
Silver The Week Ahead 24th March '25Silver bullish & overbought, the key trading level is at 3194
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Silver Wave Analysis – 21 March 2025
- Silver reversed from resistance level 34.00
- Likely to fall to support level 32.00
Silver recently reversed down from the key resistance level 34.00 (which stopped the previous intermediate impose wave (3) at the end of October) standing close to the upper weekly Bollinger Band.
The downward reversal from the resistance level 34.00 stopped the previous impulse wave 3 of the higher order impulse wave (5) from the end of 2024.
Given the strength of the resistance level 34.00 and the overbought weekly Stochastic, USDCHF can be expected to fall to the next support level 32.00.
SILVER Bullish Bias! Buy!
Hello,Traders!
SILVER went down and
Retested a horizontal
Support of 32.60$ from
Where we are seeing a
Bullish rebound so as we
Are bullish biased and we
Will be expecting a further
Bullish move up
Sell!
Comment and subscribe to help us grow!
Check out other forecasts below too!
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
XAG/USD (Silver) – 1H Technical Analysis & Trade SetupThis analysis presents a high-probability bullish trade setup based on key price action principles, market structure, and technical indicators. The chart illustrates a potential reversal from a support zone, a descending channel breakout, and an overall shift in trend dynamics.
1. Market Structure & Key Price Levels
Before placing any trade, it's essential to analyze the bigger picture, including support and resistance levels, trend structure, and liquidity zones. Let's break down the key areas:
A. Resistance Area (Supply Zone) – $34.20 to $34.60
This horizontal resistance zone has historically acted as a selling pressure area where price faced rejection.
It represents a profit-taking zone for bulls and a possible reversal point for bears.
If price successfully breaks and closes above this resistance, it could signal further upside potential.
B. Support Level (Demand Zone) – $32.90 to $33.10
The price has consistently bounced from this region, indicating strong buying interest.
This level has acted as a demand zone, where institutions or large traders are likely accumulating positions.
A strong bullish reaction from this zone strengthens the reversal scenario.
C. Change of Character (CHoCH) – Key Structural Shift
A Change of Character (CHoCH) is marked on the chart, indicating a potential shift from a bearish to a bullish trend.
This is one of the most reliable signals when transitioning from a downtrend to an uptrend.
2. Chart Pattern & Price Action Analysis
A. Descending Channel Formation (Bullish Reversal Pattern)
The market has been forming a descending channel, which is a corrective pattern rather than a continuation pattern.
This structure consists of lower highs and lower lows, indicating short-term selling pressure.
However, when such a pattern forms near strong support, it often precedes a breakout and trend reversal.
A confirmed break above the channel's upper trendline will serve as a bullish breakout signal.
B. Liquidity Grab & Stop Hunt Consideration
Many retail traders place stop-loss orders below the support zone, making it an area of liquidity accumulation.
The market may attempt to sweep these stops before moving up, which aligns with institutional trading behavior.
If price momentarily dips below the support and then quickly reverses with strong bullish momentum, it confirms a stop hunt and a possible reversal setup.
3. Trading Strategy & Setup
To maximize profits while managing risk, we need a well-structured entry, target, and stop-loss strategy.
📌 Entry Strategy
Aggressive Entry:
Enter a buy position within the support zone ($33.00 - $33.10) if bullish price action (e.g., bullish engulfing candle) confirms buying pressure.
Conservative Entry:
Wait for a clear breakout from the descending channel’s upper trendline, then buy on a retest.
This reduces the risk of a fakeout and provides higher confirmation.
🎯 Target Levels (Take Profit Zones)
First Target (TP1) – $34.26
This is a key resistance level where price previously reversed.
Partial profit-taking is recommended here to secure gains.
Second Target (TP2) – $34.60
If momentum continues, price could reach this extended target.
Strong breakout volume would support this move.
🛑 Stop Loss (SL) Placement
Stop-loss should be set below the support zone ($32.45).
This ensures adequate risk management and avoids premature stop-outs.
If price breaks below this level with strong selling volume, the bullish setup is invalidated.
4. Risk Management & Trade Considerations
📌 Risk-to-Reward Ratio (RRR):
The trade setup offers an RRR of at least 1:3, making it a high-probability trade.
📌 Possible Fakeouts & Confirmation Signals:
If price breaks above the descending channel but fails to hold above support, it's a sign of a fake breakout.
Watch for strong bullish volume and clear break of previous lower highs before entering long.
📌 Fundamental Factors:
Keep an eye on economic reports, Federal Reserve speeches, and USD strength, as they heavily influence Silver prices.
5. Conclusion – High-Probability Bullish Setup
Descending channel breakout, strong support level, and CHoCH indicate a potential bullish reversal.
If buyers successfully defend the support zone, price is likely to target $34.26 – $34.60.
Risk management is crucial – waiting for confirmation reduces chances of a failed trade.
🚀 Watch for bullish confirmation before entering!
Why is Gold hitting record highs while Silver lags behind?Silver 21-Mar-2025:
Many investors are wondering why Gold continues to reach new highs, while Silver remains below its 2011 all-time high of around $49.50.
It’s important to understand that Silver is not perceived as a safe-haven asset to the same extent as Gold. During times of uncertainty, capital tends to flow more aggressively into Gold as a hedge. While Silver may benefit from this momentum, its heavy use in industrial production makes a sharp rally less favorable for manufacturers—much like we see in oil markets.
As of now, Silver is trading around $33.
From a technical perspective, some traders are observing the following levels:
* A potential short-term move above $35 may open the way for a retest of the $37 area.
* Support was previously seen near $32.5.
* A sustained move below $32.5 might lead to a deeper correction, possibly toward the $30.8 support zone.
* If the $30 psychological level fails to hold, further downside toward $29 cannot be ruled out.
Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Silver Steadies Near $33.20 After PullbackSilver hovered near $33.20 on Friday morning after two consecutive sessions of decline. The recent upward momentum, initially fueled by China’s stimulus measures, has temporarily stalled. Nevertheless, the potential for further gains remains intact amid persistent uncertainty surrounding former President Trump’s tariff policies and escalating geopolitical risks. In addition, the Federal Reserve’s soft approach to interest rates, even if temporary, continues to support interest in non-yielding assets like silver.
If silver breaks above $33.75, the next resistance levels are $34.05 and $34.85. On the downside, support is at $33.10, with further levels at $32.50 and $32.15 if selling pressure increases.
Silver Approaching Critical 32.95 Support LevelSilver has broken below the 33.50 support and is retreating quickly. The main support lies around the 32.95 area, where both the uptrend line and the 38.2% Fibonacci retracement level converge. This zone could potentially offer a buying opportunity, provided the support holds.
However, if Silver breaks below 32.95 and retests it from underneath, it could also present a selling opportunity. In both scenarios, a high risk/reward trade setup with well-placed stops may form.
Caution is advised, as Silver is known for sudden price spikes, especially around key support and resistance levels.