Silver Multi-Timeframe Analysis 30.01

30 בינו׳ 2023

Hello Traders,
welcome to this free and educational technical analysis .

Silver is currently testing a very strong weekly support/resistance area amd after this massive runup there is the possibility that we will see a short term correction away from the zone.

On the daily timeframe you can see a beautiful distribution phase, where the market is starting to create lower highs and lower lows, so I am now just waiting for a break of the very strong previous support zone and then a retest,
and then I will definitely enter a short to capitalize on the continuation to the downside.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/XAGUSD/wIjWX10c-Silver-Analysis-01-01-2023/