SILVER 4H : Under sell pressure
Updated
SILVER
New forecast
The price of silver declined and achieved a strong break of the 23.50 level to reach the 23.00 level directly, and we notice that the price is pressuring this level to provide signs of a trend towards achieving further expected decline during the coming period, targeting the 22.60 and extend to 22.21 and 22.00 areas as the next main station.
Therefore the downward bias will be likely in the immediate term,supported by moving average 50 that is continue to support the price to drop , taking into account breaking the 23.73 level will push the price to try to recover.
The expected trading range for today is between support 232.00 and resistance 23.50.
resistance line : 23.00 , 23.50
support line : 22.60 , 22.21
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New forecast
The price of silver declined and achieved a strong break of the 23.50 level to reach the 23.00 level directly, and we notice that the price is pressuring this level to provide signs of a trend towards achieving further expected decline during the coming period, targeting the 22.60 and extend to 22.21 and 22.00 areas as the next main station.
Therefore the downward bias will be likely in the immediate term,supported by moving average 50 that is continue to support the price to drop , taking into account breaking the 23.73 level will push the price to try to recover.
The expected trading range for today is between support 232.00 and resistance 23.50.
resistance line : 23.00 , 23.50
support line : 22.60 , 22.21
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 ❤️
Note
SILVER
Update
The price perfectly fulfills my last idea and price reached to near to our first target .
The silver price achieved a clear break of the 23.00 level and ended yesterday’s trading below it, which supports the continuation of the expected bearish trend scenario in the immediate term, paving the way for heading towards 22.60 and 20.00 as the next main target.
Therefore the downward scenario will be remain valid and effective during coming period supported by moving average 50 that is continue to support the price to drop ,Noting that the continuation of the bearish wave requires stability below 23.50 levels.
The expected trading range for today is between support 22.00 and resistance 23.50.
Additionally ,Today News will affect on the market .
resistance line : 23.00 , 23.50
support line : 22.60 , 22.21
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
SILVER
Update
The price perfectly fulfills my last idea and price reached to our first target and still running .
The price of silver fell yesterday and new negative trades appeared after reaching our expected target at the 22.60 level and moving away from the 23.00 level, reinforcing expectations of a continuation of the downward trend during the coming sessions, remembering that our main expected target is at 22.21 and 22.00. By breaking the 22.00 level then it will put pressure On the price to reach to level 21.67.
Therefore, the negative scenario will remain valid and effective, supported by the negative pressure formed by the moving average 50, keeping in mind that breaching 23.00 level will stop the current negative pressure and push the price to begin recovery attempts in the immediate term.
The expected trading range for today is between support 22.00 and resistance 23.00.
Additionally ,Today News will affect on the market .
resistance line : 23.00 , 23.50
support line : 22.21 , 22.00
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 ❤️
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