Silver is testing the confluence of downside support
Silver is testing the confluence of a previously broken resistance now downside support 24.800. A rejection from here would give us a higher probability of short trade entries. A break above 25is now required for the upside reversal. The overall medium-term is an uptrend but a rejection here and a confirmed break below 23.50 would lead to a complete downside reversal. Use this consolidation to build a short position.
Note – We are inclined to short trade entries with the stop loss above 24.850.
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