This chart presents a technical analysis of Silver CFDs (US$/OZ)
1. Trendline Break
The chart initially shows a clear uptrend, which has now been broken, indicating a potential shift in market sentiment towards a bearish trend.
2. Identification of the Sell Zone
The price has entered a resistance area (Sell Zone), where selling pressure is expected to increase. This suggests a potential reversal or continuation of downward movement.
3. Bearish Price Expectation
The chart projects a possible downward trajectory, signaling that the price may decline further and seek lower support levels.
4. Presence of a Support Zone
A support level is highlighted around 30.100 – 30.400, which could act as a potential demand zone, where buyers may step in to slow or reverse the decline.
Conclusion
This analysis suggests a bearish market outlook, with potential short-selling opportunities. If the price breaks further below the Sell Zone, the target area would likely be the lower support zone.
The chart initially shows a clear uptrend, which has now been broken, indicating a potential shift in market sentiment towards a bearish trend.
2. Identification of the Sell Zone
The price has entered a resistance area (Sell Zone), where selling pressure is expected to increase. This suggests a potential reversal or continuation of downward movement.
3. Bearish Price Expectation
The chart projects a possible downward trajectory, signaling that the price may decline further and seek lower support levels.
4. Presence of a Support Zone
A support level is highlighted around 30.100 – 30.400, which could act as a potential demand zone, where buyers may step in to slow or reverse the decline.
Conclusion
This analysis suggests a bearish market outlook, with potential short-selling opportunities. If the price breaks further below the Sell Zone, the target area would likely be the lower support zone.
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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.
"Join our Telegram channel to receive free, high-quality trading signals. Stay ahead in the market with our expert insights!
t.me/LunaTrader_1
t.me/LunaTrader_1
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.