SI1!: Silver Demand Zone: Possible Bullish Continuation

I am currently observing a potential long-term continuation on SI1! Silver (XAG/USD), as the Commitment of Traders (COT) data indicates an increase in positions from both commercial and non-commercial traders. The price is approaching a demand zone on the daily chart, suggesting a possible bullish move.

The recent price action originated from an initial spike in the monthly supply zone, but there’s a possibility that the price could continue to rise further before reaching the next supply zone where a reversal might occur. Given the daily timeframe, I view this setup as suitable for a scalp trade. In my opinion, this presents an opportunity for short-term traders to capitalize on the potential upward movement.


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