Silver short term pullback and long term bullish
Silver had a pretty good run since mid October 2022 after months long of price consolidation. It has been moving in a upward parallel channel since mid November.
It has hit a key resistance level at $24.5 (Red Line) and failed to break out multiple times since Dec last two weeks..
Today the lower channel line got breached and if fails to get back into the channel , I see Silver might test the $22.38 support level near term and consolidate sideways for some time to build momentum.
Failure to hold the $22.38 level will take it to $20.8 support level.
If Silver manages to get back into parallel channel and break $24.5 resistance level, next target would be $26.3
Let me know your thoughts in comments.
It has hit a key resistance level at $24.5 (Red Line) and failed to break out multiple times since Dec last two weeks..
Today the lower channel line got breached and if fails to get back into the channel , I see Silver might test the $22.38 support level near term and consolidate sideways for some time to build momentum.
Failure to hold the $22.38 level will take it to $20.8 support level.
If Silver manages to get back into parallel channel and break $24.5 resistance level, next target would be $26.3
Let me know your thoughts in comments.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.