Spot Silver Market Briefing — London Silver is currently priced at approximately $77.28 per ounce, which is actually a trap.

From a technical perspective, it is already overbought in the short term, and the supply and demand relationship has reversed in the medium term. From a long-term perspective, we are entering an oversupply cycle. Therefore, subsequent rebounds are opportunities to short.

Let's start with the trading idea:
In the range of 77.6 to 78, consider short positions, with a stop-loss set at 78.5. As for the downside targets, we look at three levels — first watch the 76 level, then 74, and the deepest correction should reach around 70.

Simply put, short on rebounds above, gradually bear down below. If it breaks below 73, the probability of a deep correction increases significantly.