12.5 Morning Silver Strategy
Currently, silver maintains a low-point upward trend, but the stalemate at high levels highlights bearish signals: the previous high of 58.945 has been unsuccessfully tested multiple times, and the long upper shadow of the candlestick reveals weakness in the upward movement. Additionally, after a surge earlier this year, the RSI continues to hover in the overbought zone above 70, indicating that bullish momentum has been excessively consumed; meanwhile, MACD momentum is gradually shrinking, and there are signs of a squeeze in the Bollinger Bands. Coupled with increased selling pressure from profit-taking at high levels, the support strength of the previously elevated low points has weakened, raising the probability of a subsequent drop towards the lower band of the Bollinger Bands.
Operation Suggestion: Short on rebound, light short positions around 57.5-57.8
Defense: 58.2
Target: 57, 56.5
