Silver prices could be approaching their final low, according to veteran trader Peter Brandt. However, he expects any subsequent recovery to be gradual rather than explosive.
The precious metal traded at $53.18 per ounce on Thursday, up 1.76% on the day. That still leaves it about 56% below its January record of $121.74.
On X, Brandt said two versions of his chart, weekly and daily, both show a falling wedge.
The pattern forms when prices slide between two downward-sloping lines that slowly converge. Chart **** ysts often read it as a sign that selling pressure is fading.
Follow us on X to get the latest news as it happens
#brandt #chart
The precious metal traded at $53.18 per ounce on Thursday, up 1.76% on the day. That still leaves it about 56% below its January record of $121.74.
On X, Brandt said two versions of his chart, weekly and daily, both show a falling wedge.
The pattern forms when prices slide between two downward-sloping lines that slowly converge. Chart **** ysts often read it as a sign that selling pressure is fading.
Follow us on X to get the latest news as it happens
#brandt #chart
2 hours ago
