Silver prices dropped sharply following a sudden plunge of over 20% in U.S. copper futures, triggered by a surprise decision from the Trump administration to cancel import tariffs on refined copper. This move caused turmoil in the markets and impacted related assets such as silver.
From a technical perspective, silver is trading in a general downtrend on the 4-hour chart, forming lower lows and lower highs, maintaining a bearish structure.
If the price rises to the 37.034 level, it is likely to reverse downward to continue the bearish trend, targeting the 36.45 and 35.60 levels in the medium to long term.
However, if the price climbs above 37.26 and closes a 4-hour candle above that level, the bearish scenario would be invalidated, and this breakout could signal a trend reversal from bearish to bullish.
From a technical perspective, silver is trading in a general downtrend on the 4-hour chart, forming lower lows and lower highs, maintaining a bearish structure.
If the price rises to the 37.034 level, it is likely to reverse downward to continue the bearish trend, targeting the 36.45 and 35.60 levels in the medium to long term.
However, if the price climbs above 37.26 and closes a 4-hour candle above that level, the bearish scenario would be invalidated, and this breakout could signal a trend reversal from bearish to bullish.
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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.