Fundamentals:
On Monday (February 6), the silver price maintained a range of 22.6-22.15, and the daily line closed with a cross star.
Today's data
Technical aspect:
On the daily line, the silver daily line closes the cross star, currently running below the short-term line, the 5-day and 10-day moving averages are running down, the mid-term line is flat and glued, MACD is running down, KDJ is running down, and the indicators are bearish.
The Fed's interest rate hike is coming to an end, inflation has been declining recently, and the situation in Ukraine and Russia is still repeated. Fundamentals still favor the bulls.
The silver daily line hit a small new low yesterday, and then fell into a low level and fluctuated slightly. The daily line closed with cross stars. The daily line is still volatile and bearish, but it has not been repaired after falling below the 23 mark, so if you want to fall better, It is necessary to rebound and trim around the 23 mark, and then continue to fall. At this time, it is a good short-selling opportunity. If it does not trim around 23, but continues to fall like this, it is easy to make a new low and then bottom out and rebound. Therefore, it is best It is best not to chase the short, just wait patiently for the rebound to high altitude. Focus on the pressure near 23 above the daily line, and focus on the support near 22 and 21 below. (Silver midline layout ideas: layout empty orders around 23, stop loss 23.3, target 22.5-22-21.5-21.)
Pressure: 22.8-23-23.3-24-24.5-25-26-28-30
Support: 22-21.5-21-20.5-20
Spot silver:
Empty near 1.23, stop loss 23.3, target 22.5-22-21.5-21-20.5