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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I make a living by drawing charts.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.