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It seems like the money is entering a new phase. This morning, after looking at the chart, I saw a clear reversal candlestick pattern. The price couldn't decide at the 50-day SMA and then dropped sharply. Currently, XAG is at 75.40, down about 3%. It appears there is quite strong selling pressure.
The reversal candlestick pattern appearing on the daily chart indicates that the downtrend may continue. The 61.8% Fibonacci level has already been broken through. Now, it looks like there is support at 75.28 (20-day SMA), but if this level breaks, the next levels are 73.57 and 72.61, respectively.
It seems the market isn't ready for a reversal yet. It's better to monitor these support levels first.