FX.co ★ lstanton | XAG/USD, SILVER

It is worth noting that we still have a local upward movement on SILVER as well. We have already reached the targets around 74.45, managed to consolidate above it, and are currently pushing north, trading above 75. On the other hand, looking at a broader perspective, it is too early to talk about breaking the downward trend. Although I don't see any clear targets from either side at the moment. Currently, silver and all precious metals are in demand. On the other hand, the dollar is under pressure. However, it is important to see how the dollar will trade further, as we have a lot of statistics and data from ADP. In any case, I do not consider buying at these price levels. However, if we fail to consolidate above 75 and drop below 74.45 eventually, I do not rule out selling in the future.