Silver short view

29 сент. 2022 г.

The price of silver managed to recover yesterday, but only up to $19.00, where it encountered new resistance. During the Asian session, we see pullback prices to the $18.50 level. For now, we manage to find little support at that point and hold before the next major impulse. The price of silver did form a new higher low but failed to create a higher high. Based on this, we can expect the silver price to continue falling. If we fail to make a more concrete step above $18.80 at the 38.2% Fibonacci level, the price could start a stronger bearish trend. Our targets are again the previous low at $18.00, then the September low at $17.53.