Silver / U.S. DollarShort
Silver Struggles at Resistance – Bearish Setup in Play?
Since reaching the 32.30 resistance zone last Wednesday, XAGUSD has been trading in a range-bound consolidation phase.
On Friday’s NFP release, the price spiked back into this resistance area but quickly reversed, closing the day near the 31.70 support level.
Currently, Silver is rebounding once again from this support, which could present a good shorting opportunity for sellers.
My bias is bearish as long as 32.50 resistance holds, and I expect a potential decline toward 31.00 in the near term.
XAGUSD has been trading in a range-bound consolidation phase.On Friday’s NFP release, the price spiked back into this resistance area but quickly reversed, closing the day near the 31.70 support level.
Currently, Silver is rebounding once again from this support, which could present a good shorting opportunity for sellers.
My bias is bearish as long as 32.50 resistance holds, and I expect a potential decline toward 31.00 in the near term.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.