SILVER (XAGUSD) Key Major Levels

7 Des 2020

Silver has recently bounced from a key demand zone,
here are the main key levels to pay attention to:

Support 1 - 21.6 - 22.6 area based on September's low & autumn's price action.

Resistance 1 - major falling trend line tested 3 times this year, for now, it is the closest resistance and most likely goal for buyers.
Resistance 2 - 25.6 - 26.3 area based on July's high and last three months' price action.

Key levels serve as goals for buyers/sellers and safe places to buy/sell from.
As soon as the market reached a key level, look for a lower time frame confirmation, before you open a position.