Silver: Price Arriving at a Key Level
Yesterday, silver has arrived at a key level of 21.700. We can see from the daily chart that this level has been the bottom of the channel since 2020 October, where all prices have bounced up from this support area.
Observing in details, we can see that all bullish reversals have occurred after clear bullish candlestick patterns were formed. Therefore, in next few days, we will carefully observe the price action. We will enter our swing buy positions after spotting a bullish candlestick pattern. Our first buy target will be in the level of 24.30 because we can see that all prices which have bounced up from this support area have all first reached this level.
Observing in details, we can see that all bullish reversals have occurred after clear bullish candlestick patterns were formed. Therefore, in next few days, we will carefully observe the price action. We will enter our swing buy positions after spotting a bullish candlestick pattern. Our first buy target will be in the level of 24.30 because we can see that all prices which have bounced up from this support area have all first reached this level.
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.