Silver Tests Major Long-Term Support After Collapse
Silver prices have collapsed from resistance at 5770/5800, reaching targets down to 5590/5560, and are now poised to test a key longer-term support level.
XAGUSD
Silver has continued its downward move, collapsing from resistance at 5770/5800. Prices have already hit targets at 5760/5730, 5660/5640, and the June low at 5590/5560. The metal is now approaching a major longer-term support zone.
Traders are watching whether this support will hold or be broken, which could determine the next directional move for silver.
Source: FXStreet Forex News