Silver consolidation ... providing buying opportunity !!!Silver FuturesCOMEX_DL:SI1!umakanthraokThe February retracement of silver from a high of 121.78 has now formed into an ABC form of a collection which is close to 61 % of the previous rally which started apr 2025 . This is quite a substantial correction looking at the way the prices have gone up but looking at the indicators it appears an Uptrend that plenty of traders are still looking at may need more developments. The ADX indicator which measures the strength of the existing term is now positioned at close to 25 or rather shows a tepid momentum setup. Hence it looks like the plenty of the vigorous rallies are done with in the near term and now the prices are trying to rest a little bit for a prolonged consolidation. But this may also mean that there is an opportunity for long term buying participation in this consolidation and not let go any weakness within consolidation. so the chances of the silver still going up are higher because the global uncertainties are not yet finished the US bond markets are weakening the dollar index is weakening and hence the alternative safety currency is clearly gold /silver or for that matter the precious metals complex , are becoming a much needed safety reserve or the one that can be provide an alternative safety next to the dollar is becoming more vocal among the central bankers. This way expecting a new low or bargain hunting is becoming more and more difficulty at times of global uncertainties and silver seems to be strongly supported somewhere close to 70-63 levels and so long has the supports of this remain intact or repeatedly find some sort of a buying interest, so we can safely assume that the next big league is going to be the new high.