Silver prices fluctuate unevenly. Yesterday, the market opened at 78.275, initially surged to 77.74 then started to retreat, with the daily chart bottoming out at 73.804, a key support level that halted the decline. Afterwards, driven by buying momentum, it rebounded strongly, closing at 76.98, forming a hammer candlestick with a particularly long lower shadow.

From a market-driven perspective, the US initial jobless claims data exceeded expectations, directly fueling market expectations of the Federal Reserve cutting interest rates early, causing the US dollar index to weaken in the short term. Coupled with escalating geopolitical risk aversion sentiment, silver gained the confidence to rebound.

Technically, the picture is quite clear. On the 15-minute chart, after bottoming at 73.804, silver formed a beautiful V-shaped reversal. During the rebound, trading volume gradually increased, indicating that funds were indeed entering at lower levels. The hammer pattern on the daily chart suggests solid buying support below, and the short-term downward momentum has significantly weakened.

The current strategy is to wait for opportunities. Consider entering long positions around 75.3, with a stop loss below 75.0. The short-term targets are first at 77.0 and 77.5. If these levels are broken, there is room to move towards the 78.0-79.0 range.