December 15th Silver Afternoon Outlook
From the current 1-hour candlestick chart and market data, the silver price has bounced back strongly after hitting the bottom. In the short term, it has moved above the short-term moving average, showing a strong rebound trend. However, it is still under pressure from the resistance formed by previous highs. Nevertheless, the bullish momentum is quite robust, with an expanded fluctuation range and a rapid upward shift in price focus, indicating a decisive offensive by the bulls during the rebound process.
The KDJ has entered the overbought zone, indicating that the short-term bullish momentum has been fully released, and there is a potential for a technical pullback. However, the indicator has not shown a crossover death cross, which does not currently affect the rebound trend.
Trading Suggestions
Duo: If the price stabilizes at 63.30, consider looking for low-buy opportunities in the 62.90 - 63.00 range, with an upper target of 63.50. If it breaks through, then further look towards the pressure around 64.00.
Kong: If it effectively breaks below 62.70 (5-day moving average), it may pull back to 62.30 or even 62.00 in the short term. You can take a light short position, with a stop loss set above 63.40.
