CFDs on Silver (US$ / OZ)Updated Silver Price Poised for Breakout: Key Levels and Strategies
SILVER Silver Price Poised for Breakout: Key Levels and StrategiesAnalysis:
Price Action Strategy:
Support and Resistance Levels:
The chart shows significant support around 29.4000 and resistance around 30.0000.
The price is currently testing the FVG (Fair Value Gap) level at 29.8016, indicating potential for a breakout.
Volume Profile:
High volume around the 29.6368 level suggests strong interest and potential reversal zones.
Trend Analysis:
The current trend is bullish, with higher highs and higher lows.
Potential for continuation if the price breaks above the FVG level with strong volume confirmation.
Smart Money Concepts (SMC):
Order Block (OB):
A bullish order block is identified around 29.6368, indicating potential buy zones.
The CHoCH (Change of Character) confirms a bullish trend continuation.
Liquidity Zones:
Liquidity observed around the 29.4000 level indicates potential support.
ICT (Inner Circle Trader) Strategy:
Fibonacci Retracement Levels:
Key levels to watch are 0.382 (29.83553), 0.5 (30.0025), and 0.618 (30.16947).
Optimal Trade Entry (OTE):
The OTE zone aligns with the FVG and OB levels, indicating strong potential for a long entry.
Indicators:
RSI: Currently around 60.41, indicating neutral to slightly bullish sentiment.
MACD: Shows a bullish crossover, suggesting potential upward momentum.
Buy Signal:
entry: 29.6368
tp1: 29.8016
tp2: 30.0000
sl: 29.4000
Sell Signal:
entry: 29.8016
tp1: 29.6368
tp2: 29.4000
sl: 30.0000
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Sell Signal:
entry: 29.8016
Trade closed: target reached
ALL TP DONE GREAT JOB 
Alex Gold Hunter
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Alex Gold Hunter
Free Signals & analysis
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tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Free Signals & analysis
Join for Free
tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
Related publications
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.