Silver chart overview
Silver chart analysis
The price of silver formed a new higher high at the $22.20 level. Today, the price broke above the $22.00 level, but the price did not stay there for long, and a pullback to the $21.90 level followed. We are back below $22.00, which could put some pressure on the price. We need a negative consolidation and a drop below the $21.80 level for the bearish option first. After that, the price would enter the previous consolidation zone of $21.40-$21.60. A drop below would lead to a retest of the previous low at the $21.20 level. And a further drop would bring us down to the $21.00 level. At this level, the price could find more specific support and start a new recovery. For a bullish option, we need positive consolidation and a return to the $22.20 level. Then we need the price to break above and stay up. With the next impulse, we could see a further rise in the price of silver. Potential higher targets are the $22.40 and $22.60 levels.
The price of silver formed a new higher high at the $22.20 level. Today, the price broke above the $22.00 level, but the price did not stay there for long, and a pullback to the $21.90 level followed. We are back below $22.00, which could put some pressure on the price. We need a negative consolidation and a drop below the $21.80 level for the bearish option first. After that, the price would enter the previous consolidation zone of $21.40-$21.60. A drop below would lead to a retest of the previous low at the $21.20 level. And a further drop would bring us down to the $21.00 level. At this level, the price could find more specific support and start a new recovery. For a bullish option, we need positive consolidation and a return to the $22.20 level. Then we need the price to break above and stay up. With the next impulse, we could see a further rise in the price of silver. Potential higher targets are the $22.40 and $22.60 levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.