Silver is currently in a pretty similar position to Gold, standing at an important crossroad after an extremely strong rally over the past weeks.
At the beginning of the month, Silver reversed very nicely from above the 70 zone and continued its bullish expansion all the way above 80 last week — a level that also aligns very well with the resistance area from mid-April.
However, compared to Gold, Silver’s P.A currently looks cleaner and, to be honest, more bullish.
After the rejection from 82, the retracement found support around the 78.50 zone on Friday, and this detail is important because, unlike Gold, last night’s low was actually a higher low compared to Friday’s low — not a fresh local low.
This suggests that buyers are still defending the structure quite aggressively and that the market is, at least for now, maintaining bullish pressure despite the recent pullback.
Because of this, I currently maintain a bullish stance on Silver, especially while the market remains above the recent support zones.
Of course, like always, the market must confirm the scenario, but at this moment Silver still appears technically stronger than Gold. 🚀
At the beginning of the month, Silver reversed very nicely from above the 70 zone and continued its bullish expansion all the way above 80 last week — a level that also aligns very well with the resistance area from mid-April.
However, compared to Gold, Silver’s P.A currently looks cleaner and, to be honest, more bullish.
After the rejection from 82, the retracement found support around the 78.50 zone on Friday, and this detail is important because, unlike Gold, last night’s low was actually a higher low compared to Friday’s low — not a fresh local low.
This suggests that buyers are still defending the structure quite aggressively and that the market is, at least for now, maintaining bullish pressure despite the recent pullback.
Because of this, I currently maintain a bullish stance on Silver, especially while the market remains above the recent support zones.
Of course, like always, the market must confirm the scenario, but at this moment Silver still appears technically stronger than Gold. 🚀
Trade ist aktiv
Silver broke above resistance, as expected85 could be the target and also, it should drag Gold with it
Trade geschlossen: Ziel wurde erreicht
85 target hit
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💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.