Silver Update 7/4
D:
Sentiment: Neutral
Trend:Up
Flow: Negative
Support: 29-29.20
Resistance: 30.50-31 Supply cluster
4hr:
Sentiment: above neutral
Trend: Up
Support: 30-30.30 demand cluster
Resistance: 30.80-31 UTL
1hr:
Sentiment: Above neutral
Trend: Up
Support: 30.20-30.30 demand cluster/UTL
Resistance: 30.50-30.85 supply cluster/UTL
Analysis:
Sentiment not really a factor here with everything around neutral territory. I like how we’ve trended sideways and cooled off some bearish sentiment on 1hr (profit taking imo). Positioning a bit mixed as we have supply clusters pretty much in the same range across all time frames. 1hr/4hr nice demand cluster area of 30-30.30 to act as a spot for a long or a SL range if already in. Like gold the dips may be light here until NFP as data is expected to come in on the softer side. I expect we stay in this range of 30-31 until then and the reaction will give an idea as to how to trade silver next.
Sentiment: Neutral
Trend:Up
Flow: Negative
Support: 29-29.20
Resistance: 30.50-31 Supply cluster
4hr:
Sentiment: above neutral
Trend: Up
Support: 30-30.30 demand cluster
Resistance: 30.80-31 UTL
1hr:
Sentiment: Above neutral
Trend: Up
Support: 30.20-30.30 demand cluster/UTL
Resistance: 30.50-30.85 supply cluster/UTL
Analysis:
Sentiment not really a factor here with everything around neutral territory. I like how we’ve trended sideways and cooled off some bearish sentiment on 1hr (profit taking imo). Positioning a bit mixed as we have supply clusters pretty much in the same range across all time frames. 1hr/4hr nice demand cluster area of 30-30.30 to act as a spot for a long or a SL range if already in. Like gold the dips may be light here until NFP as data is expected to come in on the softer side. I expect we stay in this range of 30-31 until then and the reaction will give an idea as to how to trade silver next.
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