Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

22 December

Silver  XAGUSD

1. 1. Silver is trending higher but with significant declines after a break higher & periods of low volatility, trading sideways for long periods after a move.
2. 2. Longs at support at 6470/6460 worked as we shot higher from 6445 to my 1st target of 6620/6630.
3. 3. We paused exactly here for a few hours then eventually broke the all time high at 6678/6688.
4. 4. We immediately hit the next target of 6700/6705 reaching a new all time high at 6745.
5. 5. Eventually we should reach 6775/6778 then 6795/6799.
6. 6. Downside corrections are common & quite swift so be careful, especially in low volume conditions over the holiday period.
7. 7. First support at 6570/6550 could hold the downside (initially at least) but longs need stops below 6525.

8. If we break lower, look for a buying opportunity at 6455/6435 & longs need stops below 6420.

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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.

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Jason Sen, Director

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20251222