Silver Market Update: Consolidation at Key Resistance
As I mentioned before, I was bullish on 
XAGUSD , expecting the price to reach the 32.30 resistance zone. The price has indeed reached this level and is now consolidating.
With NFP data approaching, we can expect increased volatility, which could determine silver’s next move.
A clear breakout and close above 32.30-32.40 zone would open the door for a rally towards 33.50.
On the other hand, if silver closes below 32, it would indicate that resistance has held, increasing the likelihood of a pullback toward 31.00.
XAGUSD , expecting the price to reach the 32.30 resistance zone. The price has indeed reached this level and is now consolidating.With NFP data approaching, we can expect increased volatility, which could determine silver’s next move.
A clear breakout and close above 32.30-32.40 zone would open the door for a rally towards 33.50.
On the other hand, if silver closes below 32, it would indicate that resistance has held, increasing the likelihood of a pullback toward 31.00.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.