SILVER$XAG FALL FREELY FROM FLASH CRASH PENETRATING 74 USD IN THE BLINK OF AN EYE
The precious metals market just witnessed a seismic event as the price of Silver plummeted sharply following a Waterfall model in a very short time.
🔷 From the trading price range around $88.00, massive selling pressure has sent the price of Silver falling freely, breaking through all supports to hit the lowest bottom at $73.91.
- This is a Flash Crash that caused the buying liquidity to nearly evaporate.
🔶 Silver is trading around $76.59, slightly recovering from the bottom but still deeply below the moving averages.
- The MA lines are widening the downward slope. The current price is heavily burdened by the MA7 at 76.91, acting as an immediate dynamic resistance.
The high red selling Volume column indicates that this is a Panic Sell action. The current rebound to $76.x is merely technical in nature.
If it cannot break back above the $80 mark, the risk of Silver continuing to probe the bottom below $74 is very high.
This article is for reference only and is not investment advice. Please read and consider carefully before making a decision.