Silver analysis $XAG . What is happening? 📉🥈
📌 We are witnessing a severe drop. Silver has lost over 12% in a short period, breaking through levels one after another.
✅1️⃣ OI Analysis
Open interest is soaring along with the price drop. This means that bears are aggressively pushing down, but at the same time, the market is accumulating fuel for a future "short squeeze"🚀.
✅2️⃣ Technical Condition
RSI at 24 is oversold. Sellers are exhausted, and although the trend remains downward, the risk of opening shorts "at the floor" is now maximum.
✅3️⃣ Levels
The main support is currently forming around the mark of 65.00-65.70. If we hold — we expect a technical rebound to the zone of 69.00-70.00 for a retest of the broken structure.
⚠️ Currently, we are observing the buyer's reaction at the level of 65.70👇
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