Silver XAG/USD Analysis --- 10.12.2024

Here's a brief analysis of silver:

1. Resistance Area: The marked resistance zone is near the price level of 32.265. Price action indicates potential selling pressure at this level.


2. Target Area: The target area is marked near 30.957, showing a potential bearish target if the price fails to break the resistance zone and reverses.


3. Current Price Action: The price appears to be in a consolidation phase just below the resistance area, indicating indecision. A breakout above resistance could signal further bullish momentum, while rejection at this level could lead to a move toward the target.


4. Strategy Implication:

If resistance holds, traders might look for sell opportunities targeting the green "Target Area."

If the resistance breaks convincingly with volume, the bearish target might be invalidated, and new upward targets could be considered.




Careful monitoring of price action around the resistance zone is crucial for trade confirmation.