SL1
SILVER buy level - $22 for quick technical bounce to $23 and $24SILVER is getting very close to a strong technical support at $22. It coincides with the lower trend line of the parallel channel (white) and also a lot of pivot lows at this level.. Short term traders can buy it at $22 for a quick bounce to $23.. Aggressive traders can hold till $24.. If $22 support fails, next support level is $21.23.. keep it tight stop loss..
Silver Futures ( SI1! ), D1 Potential for Bearish DropTitle: Silver Futures ( SI1! ), D1 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 24.750
Pivot: 22.940
Support: 20.805
Preferred case: Looking at the H4 chart, my overall bias for SI1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 20.805, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 24.750 where the previous swing high is.
Fundamentals: There are no major news.
Silver Futures ( SI1! ), D1 Potential for Bearish DropTitle: Silver Futures ( SI1! ), D1 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 24.750
Pivot: 23.180
Support: 20.805
Preferred case: Looking at the D1 chart, my overall bias for SI1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 20.805, where the overlap support is.
Alternative scenario: Price may head back up towards the resistance at 24.750 where the previous swing high is.
Fundamentals: There are no major news.
SILVER Futures: Potentilal Bull Flag on the monthly Bull flag seems to be developing in Silver futures on the monthly chart.
If the breakout happens, it could lead to decent appreciation in the price of the precious metal.
A breakdonw below $20 mark would invalidate this scenario.
Appreciate any comments and happy trading!
-LTT
Silver Futures ( SI1! ), H4 Potential for Bullish ContinuationTitle: Silver Futures ( SI1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 24.775
Pivot: 706.50
Support: 22.845
Preferred case: Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is.
Alternative scenario: Price may head back down towards the support at 22.845 where the recent low is.
Fundamentals: There are no major news.
Silver Futures Targting 19.90 TestTechnical & Trade View
Silver Futures
Trade View
Bias: Bullish Above Bearish below 19.90
Technicals
Primary resistance is 21.65 watch for bearish reversal patterns here
Primary pattern objective is 19.90
Acceptance below 20.50 next pattern confirmation
Acceptance above 21.70 opens a test of 22.10
20 Day VWAP bearish , 5 Day VWAP bullish
Options Expiries for today’s New York cut N/A
Institutional Insights
Analysts at Bank of America note ‘The silver market has rebalanced on production discipline and demand from new applications including solar panels. Industrial demand to keep facing headwinds as the global economy lows, but demand from solar and EV to be supportive. If more spending on solar panels come through, silver should rally above $31/o
SILVERHELLO GUYS THIS MY IDEA 💡ABOUT SILVER SL1! is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this LONG position..
and when the price come back to this area, strong buyers will be push up the market again..
UP TREND + Resistance from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
SL1HELLO GUYS THIS MY IDEA 💡ABOUT SL1 is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the Seller from this area will be defend this SHORT position..
and when the price come back to this area, strong SELLER will be push down the market again..
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢