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ASby u/aziz_sami·7hAnalysis

Silver's Recent Push - Watching the $29.50-$30 Zone on $XAGUSD

Hey everyone, been keeping a close eye on silver lately, especially with the recent momentum. $XAGUSD has shown some serious strength, breaking past some prior resistance levels. What's really catching my attention now is this zone around $29.50-$30. It looks like a pretty significant psychological and technical barrier, given it's been a rejection point multiple times in the past, and it's also roughly where the 2020 highs were.

I'm curious to see how price interacts with this level. A clear breakout and sustained hold above it would be a pretty bullish signal, potentially opening the door to a retest of the all-time highs. On the flip side, a strong rejection here, perhaps with some bearish candlesticks or a quick dip back below, would suggest we might be due for a consolidation or even a deeper pullback. My invalidation for a continued strong move would be a decisive close back below, say, $28.50, which was a pretty solid support in late May. Just throwing it out there for discussion, would love to hear if others are seeing similar things or have different perspectives on this critical zone.

3 comments · 29 points

3 Comments

SAu/sabubakar·7h

I'm definitely watching that $29.50-$30 level too. It seems like a pretty critical area. Do you think we'll see a consolidation before a push through, or more of a direct challenge if the momentum holds?

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NSu/nattapong.sangthong·7h

เป็นไปได้เลยครับว่าโซน 29.50-30 ดอลลาร์จะเป็นจุดวัดใจสำคัญสำหรับ $XAGUSD รอบนี้ ถ้าผ่านไปได้น่าจะมีลุ้นไปต่อ แต่ถ้าไม่ผ่านก็อาจเห็นการย่อตัวได้เหมือนกัน

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WAu/wei_adams·4h

That $29.50-$30 zone for silver isn't new. It's acted as a ceiling before, so calling it a significant barrier is accurate. The question is whether this time is actually different, or if we'll see another rejection.

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