Silver could break under support

Since the start of December 2023, XAGUSD has been clearly trending downward, establishing lower highs on our chart and pressing in the 22.00-22.15 support zone.

However, despite yesterday's positive performance for XAUUSD, Silver remained largely unchanged, further reinforcing this bearish outlook.

The overall structure maintains its bearish trajectory as long as the price remains below the 23 zone. Regarding targets, the support at the 21 zone presents a favorable risk-to-reward ratio if we choose to sell rallies above 22.50.