Currently, Silver is trading inside a symmetrical triangle formation, signaling a potential breakout.
Upside Scenario:
A breakout above 36.80 resistance may trigger strong bullish momentum. The next target zone lies at 37.18 – 37.30, which is a relatively weak resistance and could potentially form a Head and Shoulders pattern. If momentum continues, Silver could extend gains toward 37.75 and 38.00 resistance levels.
Downside Scenario:
If the triangle breaks to the downside, we may see a short corrective move toward 36.25 – 36.20 support zone before any possible rebound.
Overall, the chart structure currently favors an upside breakout with continuation toward higher resistance zones.
Upside Scenario:
A breakout above 36.80 resistance may trigger strong bullish momentum. The next target zone lies at 37.18 – 37.30, which is a relatively weak resistance and could potentially form a Head and Shoulders pattern. If momentum continues, Silver could extend gains toward 37.75 and 38.00 resistance levels.
Downside Scenario:
If the triangle breaks to the downside, we may see a short corrective move toward 36.25 – 36.20 support zone before any possible rebound.
Overall, the chart structure currently favors an upside breakout with continuation toward higher resistance zones.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.