September 24 Spot Silver Intraday Analysis
Silver follows gold in retracing; in the short term it is under pressure and trending weaker. The market shows greater elasticity and more volatile swings. During the pullback, stay objective and avoid blindly chasing short positions.
After rising to new highs, silver begins a pullback and consolidation. Bearish sentiment on the hourly chart releases, and the room for further retracement widens. Near-term support lies at 63.6 and 63.0, with stronger support at 62.5. The first resistance overhead is 65.2, followed by further pressure at 66.3. In the short term, the market is within a retracement cycle—wait for support to stabilize before setting up new positions.
Intraday thinking remains: pull back and then look to go long. If the 63.6–63.0 range stabilizes, long positions can be considered. Upside targets are 65.2 and 66.3. If the downtrend continues, wait for the strong support at 62.5 to stabilize before entering long positions again. Silver’s intraday trading range is relatively large, so strictly control position sizing and patiently wait for stabilization signals.
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