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27.12.2023 01:06 PM
Analysis of Silver for December 27,.2023 - Breakout of the support zone
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Technical analysis:

Silver has been trading downside today and I found downside breakout of the support at 24.07, which is good sign for the further downside movement.

In the background there was the breakout of the rising trendline and successful re-test, which is another sign of the weakness.

Momentum oscillator is showing downside reading and middle Keltner line is acting like resistance, which is another good sign for the further drop.

I see potential for the the further downside movement towards lower references at 23.65, 23.16 and 22.55

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Petar Jacimovic,
Analytical expert of InstaTrade
© 2007-2025

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