Upon analyzing the chart, it is evident that silver has been trading within a parallel channel for almost a year, indicating a well-defined price range. In the previous trading session, the price of silver reached the resistance line of this channel. For short-term traders, a critical resistance level to watch is 74060. If this level is not surpassed convincingly,...
The resistance level at 67160 is a critical level for silver's trend, as it will determine whether the current uptrend will continue or a downtrend may be expected. If the price manages to break and sustain above the resistance level, it suggests a continuation of the uptrend, with potential upside targets at 68360 , 68760 , and even as high as 69300+...
According to the date range on MCX Silver daily chart, it's changing the trend after every 46 bars. If silver does not crossover 88.60% of fib retracement before completing 46 bars, we may expect a downtrend ahead. It can collapse up to 61000 to 55765 . Here, targets for intraday traders: 67500 - 65600 - 63660 . Or if it breaks the 88.60% , then silver...
Silver is growing slowly. According to this chart, silver is trying to move upside from the strong support trendline. It's a potential reversal point based on a support trendline. Currently, it has broken a strong support trendline. We have chances to see a tail , fakeout , or excess here. That can be up to a hurdle. And the hurdle breakout is a direct sign...
Silver made a bullish Elliott wave. The fifth wave is including a diagonal. After the fifth wave, there is an ABC correction. Silver can move upside to 62840 - 63560 levels. Expected C range: 60565 - 59200 - 57045 The correction will over at 63560 to change the current trend. And upside rally will resume for the levels of 65000 - 66000 - 68000+ .
By following the symmetrical triangle (ST), we can say that if candles will consecutively crossover the upper line, the silver will hit the following targets: 72460 - 75360 - 77800 - 80000+ According to the ST, the final targets are 86700 to 88000 levels. But if you look at the volume and S RSI indicators, it is planning for a downtrend. And at present,...
Silver Decisive Breakout! This chart doesn't require any description. Targets, stop loss, and entry-level already described on the chart. If you have any queries or concerns then ask me in the comment section.