Silver Crashed 55%. Is This 2011 All Over Again?
1 extracted signal · 0 resolved · 1 still active
MCO MarketsIndependent analyst profile- Source published
- 23 Oct 2026, 20:40 UTC
- Recorded by Tahlil Plus
- 23 Oct 2026, 21:42 UTC
AI-generated source summary
The analysis focuses on Silver (XAGUSD) within a descending wedge pattern, suggesting a bearish outlook. The current price is 54.58, with a predicted target price of 49.0. The fail bound price is set at 60.0, indicating that a move above this level would invalidate the bearish scenario. The analysis identifies a five-wave downward impulse and a corrective ABC pattern within the wedge, aligning with the prevailing bearish trend. Key support levels are identified around 50.00, with resistance noted between 56.00 and 61.00. The broader context compares the current downturn to the 2011 price action, suggesting potential for further downside if key support levels are breached.
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