Silver’s Price Action Hints at Further Decline
After reaching a high in mid-February, Silver formed a lower high on the 25th, even as Gold hit a new all-time high.
Following the recent decline in both metals, this pattern repeated itself—Silver did not make a new low, whereas Gold did, but found support in a key zone.
However, analyzing the price structure, Silver’s chart remains bearish. In recent trading hours, a small flag continuation pattern has formed, signaling potential further downside.
Given this setup, I expect Silver to break the pattern and continue its decline, with 31 as the next key support level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Following the recent decline in both metals, this pattern repeated itself—Silver did not make a new low, whereas Gold did, but found support in a key zone.
However, analyzing the price structure, Silver’s chart remains bearish. In recent trading hours, a small flag continuation pattern has formed, signaling potential further downside.
Given this setup, I expect Silver to break the pattern and continue its decline, with 31 as the next key support level.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade closed: target reached
31 target reached
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📈 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.