Watching how Silver dropped sharply yesterday, here is the urgent update:
Even though the price managed to slightly violate a key weekly level, for now, the price is still standing on that.
Here are two scenarios for your to follow:
Bullish While the price is trading on the underlined key level I still remain bullish biased. The confirmation of a coming bullish wave will be a bullish breakout of a falling parallel channel. Only then a strong swing move will be expected.
Next support will be 24.7
Bearish In case of a bearish breakout of the underlined yellow level (weekly candle close below) a bearish continuation will be expected. Next support to watch will be 19.0 - 20.0 area.
Wait for the reaction of the price & then follow the market.
โค๏ธPlease, support this idea with like and comment!โค๏ธ