Is Silver's Dual Support Ready to Hold or Fold?

Silver, for the most part, has been ensnared in a sideways trend, exhibiting characteristics of a symmetric triangle pattern. This pattern is framed by a red line serving as support and a black line delineating the resistance. As August drew to a close, silver made a brief flirtation with the resistance but has since embarked on a downward trajectory. Fast forward to today, and we find silver teetering on the brink of its support.

But this isn't just any regular support; it's a convergence of two significant lines. First, there's the dynamic red line offering support. Additionally, a horizontal green line, linking the lows of August and June, reinforces this support zone. A resurgence from these support lines, marked by a hammer candle or a bullish engulfing pattern, could herald an enticing long entry opportunity. Conversely, if silver were to breach these support lines, culminating in a daily close beneath the green zone, it would potentially unlock a compelling short position. The coming days are crucial, and they will undeniably shed light on silver's next move.