Silver analysis
Hey traders! I wanted to share my current analysis for Silver on the daily chart. Silver is currently sitting around $30.17 after dropping by about 1.18%. A clear bearish rejection at the $32 resistance zone. Price has been struggling to hold above $30.30, now showing bearish momentum. If this downward move sustains, a target near the $27.00 area looks reasonable as the next significant support zone. This gives a clean risk-to-reward ratio, around 1:4.
Would love to hear your thoughts! Are you shorting here, or do you think bulls will reclaim the $30s?
Let me know what you all think about this setup!
Hey traders! I wanted to share my current analysis for Silver on the daily chart. Silver is currently sitting around $30.17 after dropping by about 1.18%. A clear bearish rejection at the $32 resistance zone. Price has been struggling to hold above $30.30, now showing bearish momentum. If this downward move sustains, a target near the $27.00 area looks reasonable as the next significant support zone. This gives a clean risk-to-reward ratio, around 1:4.
Would love to hear your thoughts! Are you shorting here, or do you think bulls will reclaim the $30s?
Let me know what you all think about this setup!