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12.12 Silver Analysis
Recently, silver has shown sufficient upward momentum, with prices exhibiting a stepwise rise. The pullback has been limited and the correction process swift, with no clear bearish reversal signals in the short-term technical outlook.
In a bullish-dominated market environment, pullbacks are ideal entry points, and it is recommended to seize the opportunity to follow the trend.
Yesterday, silver opened at 61.793, dipped to the 61.4 support level, then triggered a bullish rebound. The intraday high reached 64.319, and it closed at 63.567. The large bullish candlestick pattern further consolidates the upward trend, and today’s outlook remains bullish.
Silver is recommended to buy around 62.7, with targets at 63.7, 64.4, and 65.