🚨 $XAG 🚨
📊After reaching 120$, silver, which experienced a sharp correction, seems to have gained its downward trend that it created in its internal structure despite losing the support area, and is heading towards the resistance area.
The potential first resistance point appears to be between 98$-104$. If it manages to gain this area, it may attempt an ATH again. Here, we need to look at whether the story of gold continues rather than the strength of silver. If gold continues its desired movement, silver is expected to follow suit.
One of the other reasons for silver's rise is its use in electric vehicles, which significantly increases demand compared to gold. If institutional demand continues to rise, silver may continue to appreciate as a valuable material independently of gold.
If it fails to surpass the 98$-104$ resistance and gets rejected, a pullback to the 75$ region may continue. The most suitable buying area for silver appears to be around 54$. DYOR
