8:44 AM · 2 March 2021

Chart of the day - SILVER (02.03.2021)

Silver continues sell-off started last week as the US dollar continues to regain ground. Price dropped almost 7% over the past 4 sessions and has reached an important support today. Silver is testing the lower limit of the Overbalance structure at $26.15 and the upward trendline. Closing daily candlestick below this hurdle can be seen as a signal of short-term trend reversal. In such a scenario, the next support to watch can be found at a mid-term price zone at $24.75.

Source: xStation5

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