SILVER is currently testing a significant area where a daily horizontal resistance meets a descending trend line. Depending on how the price reacts to this zone, there are two possible scenarios.
In a bearish scenario, traders should look for a 4-hour candle to close below the resistance level on a 4-hour timeframe before selling the market. If an engulfing candle forms and closes below 30.65, a bearish trend towards the 30.00 psychological level is anticipated.
On the other hand, in a bullish scenario, watch an inverted head and shoulders pattern on a 1H time frame.
30.92 is its neckline.a breakout above the highlighted blue area and an hourly candle closing above it would signal a strong bullish move with potential for further upward movement.
Important fundamental news expected today could act as a catalyst for a breakout in either direction.
In a bearish scenario, traders should look for a 4-hour candle to close below the resistance level on a 4-hour timeframe before selling the market. If an engulfing candle forms and closes below 30.65, a bearish trend towards the 30.00 psychological level is anticipated.
On the other hand, in a bullish scenario, watch an inverted head and shoulders pattern on a 1H time frame.
30.92 is its neckline.a breakout above the highlighted blue area and an hourly candle closing above it would signal a strong bullish move with potential for further upward movement.
Important fundamental news expected today could act as a catalyst for a breakout in either direction.
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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.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
İlgili yayınlar
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.