" Silver Prices have been followed for centuries. Silver (XAG) is a precious metal used in jewelry, silverware, electronics, and currency. Silver prices are widely followed in financial markets around the world. Silver has been traded for thousands of years and was once used for currency backing. Silver continues to be one of the most commonly traded commodities today. Silver prices are highly volatile due to speculation and supply and demand. Ag is the chemical symbol for silver on the periodic table of elements and its ISO currency symbol is XAG. " Cited from tradingview
Silver from 2016 until present is bearish and approaching it's potential support that deter it's fate for long term.
take a closer look,
Resistance at +- 15.177 ( 200 SMA and the down trendline since 2016).
Support at +- 14.268 ( recent low and been a support from a past time)
As for DMI it's still bearish as DMI+ below DMI-, although it's getting closer in each day indicate Bullish and bearish will meet and decide whos the winner in short time.
This chart would be invalidated if the price cross below green potential support area as silver would mostly enter a deeper correction if the support is broken.
peace,,,
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
