SILVER 4H : Under sell pressure
Updated
SILVER
New forecast
The price of silver was able to stabilize below the 24.60 level, and we note that the price broke this level to settle below it, which opens the way for a further decline and heading towards achieving additional negative targets up to 24.35 and extending to 24.00 in the near term and stabilized under 24.00 will help the price to reach 23.49.
Therefore, we expect a continuation of the downward bias in the immediate term, supported by a move below the moving average 50, which constitutes negative pressure against the price, taking into account that breaching 24.60 and holding above it will stop the proposed decline and lead the price to rise again.
The expected trading range for today is between support 24.00 and resistance 24.60.
Additionally ,Today News will affect on the market.
resistance line : 24.60 , 24.92
support line : 24.35 , 24.00
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New forecast
The price of silver was able to stabilize below the 24.60 level, and we note that the price broke this level to settle below it, which opens the way for a further decline and heading towards achieving additional negative targets up to 24.35 and extending to 24.00 in the near term and stabilized under 24.00 will help the price to reach 23.49.
Therefore, we expect a continuation of the downward bias in the immediate term, supported by a move below the moving average 50, which constitutes negative pressure against the price, taking into account that breaching 24.60 and holding above it will stop the proposed decline and lead the price to rise again.
The expected trading range for today is between support 24.00 and resistance 24.60.
Additionally ,Today News will affect on the market.
resistance line : 24.60 , 24.92
support line : 24.35 , 24.00
Attention : We don't have any group in telegram be careful about scammer
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
SILVERThe price perfectly fulfills my last idea and price reached to our first target and still running .
Trade closed: target reached
SILVER
Update
The price perfectly fulfills my last idea and price reached to our second targets and still running.
The silver price presented additional negative trades yesterday to test the 24.00 barrier, reinforcing expectations of a continuation of the decline in the intraday term, waiting to test the 23.73 and 23.50 levels as the next main station ,but to confirm the bearish trend should stable under 24.00 level and then others targets will be activate .
Therefore the downward scenario will be more likely during coming period supported by moving average 50 that is continue to support the price to drop ,Noting that breaching 24.60 will stop the expected decline and lead the price to regain the upward trend again.
The expected trading range for today is between support 23.49 and resistance 24.35.
Additionally ,Today News will affect on the market.
resistance line : 24.35 , 24.60
support line : 24.00 , 23.73
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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