Tuesday, May 5th Silver Intraday Analysis



From the four-hour Bollinger Bands trend, the price has consistently remained below the middle band of the Bollinger Bands, and the previous high-level pullback bearish trend has not reversed. This rally is only a weak rebound after a decline, belonging to a technical correction.

The KDJ indicator is turning downward, with bullish momentum rapidly diminishing, and bearish strength is gathering again. On the news front, market risk aversion sentiment is gradually cooling, the US dollar has stabilized after stopping its decline, putting pressure on precious metals to rise.

Trading Suggestions:
Pull back near 74-74.5, target 73, 72.5

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Trade at your own risk.
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