On an hourly timeframe, silver began a complete rebound upward from the low point at 56.55. It surged to the high at 60.03, then shifted into high-level consolidation and rest. Price is steadily holding above the short-term moving averages, and the short-term bullish trend remains intact.
Near-term support: 59.2, 58.7
Near-term resistance: 60, 61
Lower-level funds absorbing and supporting has driven silver to keep rising, completing a step-by-step advance. After reaching the 60.03 high, bullish momentum slowed and the market entered a period of high-range consolidation. The three moving averages below are forming layered support, and the upward structure has not been broken. The ADP employment data will be released later tonight, so it’s important to watch for short-term price fluctuations caused by the data. The silver market’s volatility is relatively high.
Short-term outlook:
If price pulls back and stabilizes around the 59.2 moving-average range, you may cautiously try long positions with a small size. The upside targets are 60–61. If the 59.2 support level is broken convincingly to the downside, pause the long setup.
When the rebound first reaches the 60.5–61 area and stalls under pressure, you can consider a short-term bearish fade/mean-reversion play. Targets are 59.2–58.7, and if that breaks, then look for 58.3–57.8. #白银
Near-term support: 59.2, 58.7
Near-term resistance: 60, 61
Lower-level funds absorbing and supporting has driven silver to keep rising, completing a step-by-step advance. After reaching the 60.03 high, bullish momentum slowed and the market entered a period of high-range consolidation. The three moving averages below are forming layered support, and the upward structure has not been broken. The ADP employment data will be released later tonight, so it’s important to watch for short-term price fluctuations caused by the data. The silver market’s volatility is relatively high.
Short-term outlook:
If price pulls back and stabilizes around the 59.2 moving-average range, you may cautiously try long positions with a small size. The upside targets are 60–61. If the 59.2 support level is broken convincingly to the downside, pause the long setup.
When the rebound first reaches the 60.5–61 area and stalls under pressure, you can consider a short-term bearish fade/mean-reversion play. Targets are 59.2–58.7, and if that breaks, then look for 58.3–57.8. #白银