Good afternoon everyone! Let me update you on the midday outlook for silver.



The market surged but faced resistance and pulled back; silver shot up with a long upper shadow to around 76.67 before quickly plunging, currently oscillating around 75.75. Although short-term bullish sentiment has been ignited, the overall upward momentum has significantly weakened, and the selling pressure in the 76-76.8 range has not been fully absorbed. The risk of chasing longs is high; intra-day, the main strategy is to short on rebounds, and at lower levels, only do ultra-short light positions to test the waters.

Trading suggestions
Short in the rebound between 75.8-76.7, with the first target at 75, and if broken, continue to look down to 74.5-74$XAG
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