Silver Futures (SIK2022), H4 bullish continuation!
Type : Bullish continuation
Resistance : 25.660
Pivot: 24.325
Support : 23.910
Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 24.325 in line 78.6% Fibonacci retracement towards our 1st resistance at 25.660 in line with 100% Fibonacci Retracement . Our bullish bias is further supported prices trading above our ichimoku clouds .
Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 23.910 which is a graphical swing low and also in line with 100% Fibonacci extension .
Fundamentals: Amidst highest inflation recorded for the most developed countries, we are likely to see crowds flock to safety on safe haven assets such as precious metals, supporting a overall bullish bias. As the renewed attacks and scheduled negotiations are on the way, we would expect much volatility from the asset.
Resistance : 25.660
Pivot: 24.325
Support : 23.910
Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 24.325 in line 78.6% Fibonacci retracement towards our 1st resistance at 25.660 in line with 100% Fibonacci Retracement . Our bullish bias is further supported prices trading above our ichimoku clouds .
Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 23.910 which is a graphical swing low and also in line with 100% Fibonacci extension .
Fundamentals: Amidst highest inflation recorded for the most developed countries, we are likely to see crowds flock to safety on safe haven assets such as precious metals, supporting a overall bullish bias. As the renewed attacks and scheduled negotiations are on the way, we would expect much volatility from the asset.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Feragatname
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