Silver could have found its bottom

13 thg 11

Silver has also experienced a sharp decline, falling nearly 5,000 pips from its recent multi-year high around $35.
However, unlike XAUUSD , we saw a reversal pattern in XAGUSD yesterday with a Pin Bar that aligns well with technical support just above the psychological level of $30.

As I’ve mentioned before, Silver often serves as a leading indicator for Gold, especially at market turning points.
For example, even when gold recently reached its all-time high, Silver failed to reach a new high and instead formed a lower high, signaling the potential for a decline.

Looking specifically at XAG/USD's technical indicators, the price held firmly at horizontal support and reversed yesterday, forming a strong Pin Bar on the daily chart.

I remain bullish on Silver as long as yesterday’s low remains intact, and I’ll be looking to buy on dips.