Silver is under pressure after the last correction.

After covering almost 61.8% of the Fib retracement ratio, it is now facing a historical horizontal resistance line around 23.3. In fact, if it breaks through that price, it could reach $24.6, which is the same as a 78.6% Fibonacci retracement ratio.
On the other hand, silver could reach on the other side a price of 22.3, which is around 38.2% Fib retracement ratio.
However, we will hold our old long position, waiting for a significant move to confirm that we will take a short position in the future.

Trade chiuso: obiettivo raggiunto:

Now after reaching the targeted take profit area, we will take in consideration the uptrend new wave, looking for the new signals and the historical prices as a resistance levels.