SILVER 4H : Under 22.73 will be downtrend again
Updated
SILVER
New forecast
The price of silver begins today's trading with negativity, trying to break the 22.73 level and settle below it. By breaking it, it will head towards a shift in the direction to the downside, and we expect the bearish tendency to continue to test the 22.50 and 22.23 areas mainly.
Therefore, we expect to witness further decline in the coming sessions, but on the condition of holding below 22.73, keeping in mind that a stabilized above 22.73 again will reactivate the bullish wave targeting the 23.12 level initially.
The expect range trading for today it will be between resistance line 23.12 and support line 22.50 until stabilized .
resistance line : 23.12 , 23.35
support line : 22.74 , 22.50
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of silver begins today's trading with negativity, trying to break the 22.73 level and settle below it. By breaking it, it will head towards a shift in the direction to the downside, and we expect the bearish tendency to continue to test the 22.50 and 22.23 areas mainly.
Therefore, we expect to witness further decline in the coming sessions, but on the condition of holding below 22.73, keeping in mind that a stabilized above 22.73 again will reactivate the bullish wave targeting the 23.12 level initially.
The expect range trading for today it will be between resistance line 23.12 and support line 22.50 until stabilized .
resistance line : 23.12 , 23.35
support line : 22.74 , 22.50
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
Trade closed: target reached
SILVER
Update
The price perfectly fulfills my last idea and price reached to our first target .
Silver price shows more bearish tendency to try to confirm breaking the neckline of the triple top pattern, reinforcing expectations of a continuation of the downward trend in the immediate term, remembering that our targets start at 22.23 and extend to 21.97 after breaking the previous level.
Therefore the bearish trend will be remain valid and effective during coming period supported by moving average of 50 constitutes negative pressure that supports the continuation of the expected decline, which will remain in place provided it remains below the 22.73 level.
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 23.73 , 23.12
support line : 22.50 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Note
SILVER
UPDATE
The price perfectly fulfills my last idea and price reached to the near to our target .
The price of silver was able to reach a few points ahead of our first expected target at 22.23, and it rebounded from it. We expect the downward trend to continue during the coming period, and our targets will be 22.23, and by breaking it, it will reach 21.97.
therefore, we continue to favor the downward trend in the immediate term, supported by the moving average 50, keeping in mind that breaching and stabilized above 22.73 will stop the negative scenario and push the price to recover again.
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 22.50 , 22.73
support line : 22.23 , 21.97
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Related publications
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.