Updated

Silver 1Hour

Price (1hour) is getting close to the apex of two converging lines. Normally the price breaks before the apex, if the price start swinging around this area it is indication of high volatility (bears and bulls are fighting heavy). Or should I say retail traders and hedge funds. Can we expect a thrust move up or down. Always consider what the market can do and then go with the highest probability trade setup.

Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.

Note

$1000 for Silver highly unlikely for this year (2021). However, we will look at it by the quarter.

Note

Pullbacks are expected and the change in polarity principle might come into play, where previous resistance change to support.

Note

Price now at uptrend line, before a trend change from up to down is likely we will wait for confirmation of at least two lower lows and two lower highs.

Note

Silver 1h now in a range/sideways trend. Two equal highs and two equal lows

Note

strong support holding at 26.800 Resistance at 27.700. We though the bears might get it but not yet. Major indecision and the bears and bulls fighting it out in this range. The arena is between the level mentioned.

ForexCollege

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ForexCollege

Also on: