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GOLD
Silver Technical Analysis EOD 15 Dec: Order Flow Signals Buyers Defending Higher Value
Key Takeaways (30s Read)
Silver is showing signs of buyer strength defending higher price levels.
This analysis reviews the silver market dynamics emphasizing price action, VWAP behavior, and order flow insights to assess whether recent consolidation indicates a continuation or trend exhaustion. Silver futures established critical support around $59.20 to $59.30 earlier this month, indicating strong demand. The price rebounded swiftly from $61.00 to $61.05 during a sell-off without breaking into previous value zones, suggesting accumulation. Current VWAP analysis shows that it has converged at $63.20, forming a significant reference area, with pullbacks respecting the VWAP levels around $62.90 to $63.00. Silver is now consolidating just below resistance at $64.15; sustained acceptance above this level could lead to further gains. Maintaining support at $63.20 to $63.25 is crucial for a bullish outlook, underscoring buyer strength in the market.
AI Analyst
AI Opinion
"The silver market currently presents a robust structural outlook. Observations from price action and VWAP analysis indicate that buyers are defending higher prices, leading to a flat upward trend. Notably, sustained trading around the key resistance level of $64.15 could signify potential for future price movements. As long as support at $63.20 to $63.25 remains intact, the bullish structure in silver should hold. Traders should monitor this information and manage risk accordingly."
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