Silver: After New All-Time Highs, a Sharp Correction

[m_c_jacob]

Last week, Silver reached a new all-time high, almost touching my $55 target.
However, on Friday, the market delivered a powerful sell-off, with the price dropping by around 4,000 pips — from the $54.50 ATH down to the $50.50 support zone.

At this stage, I expect the price to stabilize and form a temporary base of consolidation.
My focus now shifts to the $53.50 resistance zone, which could act as a short-term decision point.

If I observe signs of weakness or rejection in that area, I’ll consider short positions, targeting a potential retest of the $50 support zone.