Trade of the Day Silver

Silver is testing the upside resistance for a breakout

 

Silver is testing this confluence of an upside resistance 28-28.30 zone. The pair is testing the long-term upside resistance for an upside trend continuation and to end a consolidation. A break above 28.30 is important for a test of 29.84 a previous high. A rejection here would lead to a swing pullback and a test of 27.30. It seems that this is a key moment for Silver at least short-term and we are giving a slightly bigger probability of a downside swing.

Note: wait for the price action signal for a long or short trade

 

Silver price action strategy

 

 

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