Strifor || SILVER-12/12/2023
Preferred direction: SELL
Comment: As we wrote earlier about metals, we expect a downward movement; for now we are postponing the test of local and historical highs until later.
For silver, market purchases cannot influence the price in any way and the instrument stands still. Most likely, the limit seller is working; accordingly, we expect the liquidation of buyers, which in turn means a fall. The main scenario assumes a fall to support at level 22. However, we cannot exclude a momentary recovery, which still will not end in something successful for purchases. Therefore, we leave the second scenario within the fallback path, and mainly expect a fall to 22.
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Comment: As we wrote earlier about metals, we expect a downward movement; for now we are postponing the test of local and historical highs until later.
For silver, market purchases cannot influence the price in any way and the instrument stands still. Most likely, the limit seller is working; accordingly, we expect the liquidation of buyers, which in turn means a fall. The main scenario assumes a fall to support at level 22. However, we cannot exclude a momentary recovery, which still will not end in something successful for purchases. Therefore, we leave the second scenario within the fallback path, and mainly expect a fall to 22.
Thank you for like and share your views!
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