Silver- 24.40- 24.50 zone is the line in the sand

3 thg 12, 2020

Since August top at 30, Silver dropped 8usd (if we consider the low) which is approx 25%.
The drop is clearly corrective in nature and, unlike Gold, Silver didn't make a new low.
Now XagUsd is trading just under an important confluence resistance zone and a break and daily close above would signal the end of this correction
On the short term 23.50-23.60 zone is support now and dips towards this zone should be bought with a target around 24.40 resistance