One can notice the extreme bullish sentiment quickly vanishing. From a technical perspective the downtrend is decelerating but that can quickly change. Gold finds some temporary support at key Fibonacci levels. Silver behave the same as gold with a little more upside / downside kick. The weekly indicators are ok, daily still bearish and the intraday are mixed (some positive, some negative). I'm attaching a one year daily spot silver (XAGUSD) chart annotated with Fibonacci levels; see previous posts for identical gold chart if needed. Enlarge chart for better view.
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