Silver fell to $55.62 on June 22, before making another low at $54.77 during the week of July 13. Since then, price has spent several weeks consolidating and gradually recovering toward $63.28.
More recently, silver has finally broken above its key S&R resistance, strengthening the bullish structure. With the U.S. dollar also showing signs of weakness, the macro backdrop could provide additional support for precious metals.
If the breakout holds and momentum continues, $77 could be the next major upside target to watch.
The key now is whether silver can hold above the former resistance and turn it into support.
More recently, silver has finally broken above its key S&R resistance, strengthening the bullish structure. With the U.S. dollar also showing signs of weakness, the macro backdrop could provide additional support for precious metals.
If the breakout holds and momentum continues, $77 could be the next major upside target to watch.
The key now is whether silver can hold above the former resistance and turn it into support.
I make a living by drawing charts.
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
I make a living by drawing charts.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.