Silver Futures Targting 19.90 Test

Technical & 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 331/O
Harmonic PatternsSilversl1!Trend AnalysisWave Analysis

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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