Silver peaked at around $115. Then a sharp decline began. Currently, the lower high is around $95 and the lower low is around $63. We can clearly say that the trend has been broken and a downtrend has begun.

74.9 (1.618 fibo) → strong resistance (will struggle to reverse)

60.7 (1.272 fibo) → current main support

54.9 → a lower target (if support is broken)

A rebound from the 60-63 region seems highly likely.

#Silver is an industrial metal investment. Its biggest difference from gold is that it is a semi-industrial metal. That is, it is an asset whose growth expectations decrease in an environment of war and economic uncertainty. In these risky periods, the first to be sold are always volatile assets and industrial metals. Therefore, silver becomes a direct target here.

Technically, the price of silver rose very quickly. 90% of such movements are reversed just as quickly. So, this decline can actually be considered a correction of the exaggerated rise.

The simultaneous fall in gold and silver indicates a market aversion to risk and a desire by whales to remain in cash. Demand for USD is suppressing assets like gold and silver. In this scenario, it is necessary to closely monitor the $60 support level. $XAG