Asset: Silver (XAG/USD)
Timeframe: 4H
Platform: TVC
Silver is currently consolidating within a clearly defined horizontal range between approximately 32.50 and 33.73. This range-bound movement suggests accumulation and a potential breakout on the horizon.
Key Observations:
Sideways Structure: The price has been oscillating within a horizontal zone, indicating market indecision and a buildup of momentum for a larger move.
Potential Breakout Scenarios:
Bullish Breakout: If Silver breaks above the resistance zone around 33.73, we could see a swift move toward the final target at 34.43.
False Breakout or Rejection: There is also the possibility of a dip to retest support around 32.50 or lower before another rally attempt.
Key Levels:
Current Price: 32.80
Range Resistance (1st Target): 33.73
Final Target on Breakout: 34.43
Support Zone: 31.98
Conclusion:
Silver remains in consolidation mode, but the setup is maturing for a decisive breakout. Traders should watch the range boundaries closely for confirmation. A breakout above 33.73 may offer a strong buying opportunity, while a rejection could provide a short-term dip-buy setup near support.
What’s your view – breakout soon or more sideways action? Drop your thoughts below!
Timeframe: 4H
Platform: TVC
Silver is currently consolidating within a clearly defined horizontal range between approximately 32.50 and 33.73. This range-bound movement suggests accumulation and a potential breakout on the horizon.
Key Observations:
Sideways Structure: The price has been oscillating within a horizontal zone, indicating market indecision and a buildup of momentum for a larger move.
Potential Breakout Scenarios:
Bullish Breakout: If Silver breaks above the resistance zone around 33.73, we could see a swift move toward the final target at 34.43.
False Breakout or Rejection: There is also the possibility of a dip to retest support around 32.50 or lower before another rally attempt.
Key Levels:
Current Price: 32.80
Range Resistance (1st Target): 33.73
Final Target on Breakout: 34.43
Support Zone: 31.98
Conclusion:
Silver remains in consolidation mode, but the setup is maturing for a decisive breakout. Traders should watch the range boundaries closely for confirmation. A breakout above 33.73 may offer a strong buying opportunity, while a rejection could provide a short-term dip-buy setup near support.
What’s your view – breakout soon or more sideways action? Drop your thoughts below!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.