SILVER (XAGUSD): Important Decision Ahead

1 230
The increase in SILVER price has halted after reaching a significant weekly resistance level.

On a 4-hour timeframe, there is a narrow horizontal range forming along with a rising channel, with the market already breaking the support line of the channel.

The last obstacle for sellers is the support within the horizontal range at 32.42 - 32.23 on the 4-hour chart. A break and close below this level would indicate a strong bearish signal.

There is a possibility of a retracement from this pattern, potentially reaching down to 31.44.

However, if the price breaks above the resistance of the range, we may consider looking for long positions.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.