Silver, more down side to see?

8 mar 2023

XAGUSD / 1D
Hello traders, welcome back to another market breakdown.

Technical analysis: Silver has been experiencing a downward trend, with the price consistently breaking lower. Furthermore, on the weekly time frame, the price has rejected a major trend level. In addition, the Dollar index DXY has also rejected a macro level, indicating further strength in the dollar. This, coupled with the US10Y bond market breaking its structure higher, makes it seem like a wise decision to invest in the dollar during its pullback phase.

The scenario I'm looking at:
Test of Broken suppor that might become resistance.

Let me know your opinion and questions down bellow. Also, you can check my analysis on USDJPY here :

Trade safely,
Trader Leo.