Silver (XAG/USD) INTRADAY Bullish Breakout

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The Silver (XAG/USD) price action sentiment remains bullish, driven by the prevailing long-term uptrend. Recent intraday price action shows a breakout from a sideways consolidation phase, with the previous resistance now acting as a new support zone.

Key Support and Resistance Levels:

Support Zone: The critical support level to watch is 3214, representing the previous consolidation price range. A corrective pullback toward this level, followed by a bullish rebound, would reaffirm the ongoing bullish momentum.
Upside Targets: If Silver holds above the 3214 level and shows a bullish bounce, the next resistance levels to watch are 3316, 3341, and 3380 over the longer timeframe.
Bearish Scenario: A confirmed break and daily close below the 3214 support level would negate the bullish outlook and increase the probability of a deeper retracement. In this case, Silver could target the next support levels at 3176 and 3151.

Conclusion:
The bullish sentiment for Silver (XAG/USD) remains valid as long as the 3214 support level holds. Traders should monitor this key level to assess potential buying opportunities. A successful bounce from 3214 would favor long positions targeting the specified resistance levels. Conversely, a daily close below 3214 would signal caution and open the door for further downside correction.

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