SILVER at Key Resistance Zone – Potential Correction Ahead?
XAGUSD is at a significant resistance zone. This level that has previously served as strong resistance. Price action within this zone suggests the possibility of a reversal if sellers regain control. The market structure points to potential trend exhaustion, with buyers losing momentum as the pair moves closer to this resistance area.
If the price confirms a rejection from this zone, signaled by bearish candlestick patterns (e.g., bearish engulfing or long wicks), I anticipate a downward move toward the 30.44094 level. This target is realistic level for a potential correction.
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