For the first half of February, silver has been developing the upward movement. The price did not slightly reach 24 but then sellers took the initiative.
On the chart, “a bearish engulfing” is materialized implying the downward reversal. If the next candlestick confirms the reversal, we can wait for movement to Fibonacci retracement correction levels by 50% (decline to 23) and 61.8% (decline to 22.75).
This content is for informational purposes only and is not intended to be investing advice.
