#NYSilverFuturesDrop3% Silver tradersโฆ what just happened?
1๏ธโฃ Silver said: โIโm going down today.โ ๐
NY Silver Futures dropped around 3%, falling near $68.08 per ounce.
2๏ธโฃ The important part
A 3% drop is not something I would simply ignore. It shows that sellers are suddenly putting more pressure on the market.
3๏ธโฃ Now Iโm watching $68 closely ๐ฏ
If $68 holds, buyers could try to bring silver back up.
If $68 breaks, sellers may get even more confident.
4๏ธโฃ And $70?
Thatโs the level I want to see reclaimed. A move back above $70 could bring some confidence back to buyers.
5๏ธโฃ My simple view:
Iโm not chasing the drop. ๐
First, I want to see what silver does around $68.
Because sometimes the biggest mistake is seeing a red candle and thinking, โOkay, SHORT!โ ๐
Now the real question:
๐ฅ Will silver bounce from $68, or are sellers preparing another move lower?
Letโs see what happens next.
$XAG $BEAT #Silver #SilverFutures #Commodities #CryptoMarket