$XAG Silver has hardly moved from its current level, so our analyses—taking into account the waves that have formed—are still relevant.
If there is a 4-hour close above 68327, we expect further continuation of the upward move.
For silver, we are tracking two structures:
First, a bearish OBO formation, which we will track if the price closes below the 62 level.
This formation has a smaller scale.
Its targets are at levels 60–54.
Second, if there is a close above the blue zone (70–71), the bullish TOBO formation will be triggered (this formation has a wider and larger scale), and we can expect the uptrend to continue.
You can monitor resistances at 79–89.
From a technical standpoint, the larger structures are stronger.
Therefore, the probability of the TOBO playing out is slightly higher.
But the market always surprises us.
We take both scenarios into account.
On the weekly chart, as long as the minimum at 54 holds, any declines are considered a correction of the rally.
The expectations for growth remain.
If, during pullbacks, the price holds at the supports, a new rise is expected.
If there is a 4-hour close above 68327, we expect further continuation of the upward move.
For silver, we are tracking two structures:
First, a bearish OBO formation, which we will track if the price closes below the 62 level.
This formation has a smaller scale.
Its targets are at levels 60–54.
Second, if there is a close above the blue zone (70–71), the bullish TOBO formation will be triggered (this formation has a wider and larger scale), and we can expect the uptrend to continue.
You can monitor resistances at 79–89.
From a technical standpoint, the larger structures are stronger.
Therefore, the probability of the TOBO playing out is slightly higher.
But the market always surprises us.
We take both scenarios into account.
On the weekly chart, as long as the minimum at 54 holds, any declines are considered a correction of the rally.
The expectations for growth remain.
If, during pullbacks, the price holds at the supports, a new rise is expected.
