Silver Rebound Offers Short Trade Potential: Targeting $28

In my weekend analysis, I highlighted the potential formation of a Head and Shoulders pattern in Silver's price, with the neckline positioned precisely at the psychologically significant $30 level.

Yesterday, the Federal Reserve’s rate cut triggered a drop below this key level. Currently, XAGUSD is experiencing a normal rebound.

This rebound may provide traders with an opportunity to consider short positions if the broken $30 level is retested.

The next significant support level is at $28, which could serve as the target for this potential move.