Silver on a 1-hour timeframe. The analysis highlights key market structures:
Downtrend Channel: Initially, the price was in a downward-sloping channel (green-highlighted area).
Breakout and Uptrend: The price broke out of the bearish channel, forming an uptrend.
Resistance and Support Levels:
The resistance trendline (black) acted as a price ceiling where sellers emerged.
The support level (blue) helped buyers regain control, leading to price continuation.
Current Setup:
The price is consolidating around the 34.1120 level after testing the 34.5000 mark.
A potential bullish breakout or retracement towards support could be expected.
This analysis is useful for traders looking to identify trend reversals, breakout opportunities, or support and resistance confirmations.
Note: This is not a trading signal, just my personal analysis based on current market trends.
Downtrend Channel: Initially, the price was in a downward-sloping channel (green-highlighted area).
Breakout and Uptrend: The price broke out of the bearish channel, forming an uptrend.
Resistance and Support Levels:
The resistance trendline (black) acted as a price ceiling where sellers emerged.
The support level (blue) helped buyers regain control, leading to price continuation.
Current Setup:
The price is consolidating around the 34.1120 level after testing the 34.5000 mark.
A potential bullish breakout or retracement towards support could be expected.
This analysis is useful for traders looking to identify trend reversals, breakout opportunities, or support and resistance confirmations.
Note: This is not a trading signal, just my personal analysis based on current market trends.
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🆓FREE FREE GOLD & CRYPTO SIGNALS✅
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
t.me/+v5m1fJKkyZkwOTFk
✅FOREX AND GOLD/XAUUSD SIGNALS 🔥
✅98% accurate signals
✅3-5 signals daily 🔥
✅Join us on telegram
t.me/+v5m1fJKkyZkwOTFk
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.