People who thought silver was pretty steady just a couple of days ago must be having a rough time today. Silver (XAG) fell 2.6% in a day to 47.59, and futures prices kept sliding along with it. The 24-hour low of 46.19 isn't far away.
This kind of drop is the most grueling: it’s not a sudden 50% plunge in a single day, but a slow, steady grind downward that makes you open the charts every day and wonder, “Is it over yet?” If it breaks below 46.19, there won’t be much of a meaningful cushion below that.
I’d rather sit tight and watch for now. A 2.6% drop isn’t the worst we’ve seen in this market, but there’s no sign of a bottom yet either. If it holds above 46.19 and doesn’t make a new low, though, I’ll change my mind immediately—that would mean buyers have finally returned.
Silver is down to 47.59. Do you think this is a retreat from safe-haven assets, or just a brief pullback after a short-lived rally?
$XAG
#白银 #MarketAnalysis
This kind of drop is the most grueling: it’s not a sudden 50% plunge in a single day, but a slow, steady grind downward that makes you open the charts every day and wonder, “Is it over yet?” If it breaks below 46.19, there won’t be much of a meaningful cushion below that.
I’d rather sit tight and watch for now. A 2.6% drop isn’t the worst we’ve seen in this market, but there’s no sign of a bottom yet either. If it holds above 46.19 and doesn’t make a new low, though, I’ll change my mind immediately—that would mean buyers have finally returned.
Silver is down to 47.59. Do you think this is a retreat from safe-haven assets, or just a brief pullback after a short-lived rally?
$XAG
#白银 #MarketAnalysis