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Eagle Eye April 13 XAG Analysis
In the early trading session, silver gapped down at the open, with the lowest dipping to around 72.5, then rebounded to fill the gap, currently consolidating around 75.5.
In the short term, resistance levels to watch are 75.5, with strong resistance at 77.2; support levels are first at 73, with strong support at 71. The overall trend is neutral and oscillating!
If there are no major news triggers, it is expected that the short-term will remain volatile at high levels, with price movements directly influenced by the US dollar index. The impact of the US-Iran situation has not been fully digested, and market uncertainty still exists.
In terms of trading, you can rely on the short-term resistance at 75.5 to gradually establish short positions, with targets at 74, 72, and 70!