Per the 4H chart, silver has failed to brake the resistance line around 24.280 on last Friday & turned to bearish. It has ended the last week trading at the resistance level of 23.718.
But considering about the market situation, I believe, we are about to experiencing a down trend because,
1. Even silver has increased demand for solar panels, electric vehicles & computer chip industries, due to the on going global chip shortages, It can't expect increase demand for short terms.
2. Due to the Delta variant, many manufacturing plants are still experiencing lack of operations.
3. Since 6th Sep, the USD has been showing up trend.
But considering about the market situation, I believe, we are about to experiencing a down trend because,
1. Even silver has increased demand for solar panels, electric vehicles & computer chip industries, due to the on going global chip shortages, It can't expect increase demand for short terms.
2. Due to the Delta variant, many manufacturing plants are still experiencing lack of operations.
3. Since 6th Sep, the USD has been showing up trend.