Silver (MCX: SILVER1!) – 1 Hour Chart Analysis
🔍 Pattern Formation: Cup and Handle + Rounded Bottom
Silver has formed a classic Cup and Handle pattern on the 1H timeframe, indicating a potential bullish breakout above the neckline near 115132 (all-time high resistance).
A smooth rounded bottom confirms strength in accumulation.
📈Bullish Signals Observed:
🎯 Upside Targets (upon breakout):
Target 1: 113820
Target 2: 114600
Target 3: 115132 (Neckline / Breakout Level)
Target 4: 116750
Target 5: 118850 (Fib Extension 161.8%)
Stoploss: 112117 (below handle low & EMA crossover zone)
🪙 Risk Management:
Trade only on breakout confirmation with volume. Maintain defined SL as price is near a historic resistance.
📌 Disclaimer:
This is a technical analysis based on historical chart behavior and is not financial advice. Please conduct your own due diligence. Trading involves risk.
❤️ If you found this helpful, don’t forget to like the post!
🔍 Pattern Formation: Cup and Handle + Rounded Bottom
Silver has formed a classic Cup and Handle pattern on the 1H timeframe, indicating a potential bullish breakout above the neckline near 115132 (all-time high resistance).
A smooth rounded bottom confirms strength in accumulation.
📈Bullish Signals Observed:
- Price holding above 25 & 55 EMA
- Strong volume near the neckline
- Rounded base indicates strength from bulls
- Potential breakout zone highlighted
🎯 Upside Targets (upon breakout):
Target 1: 113820
Target 2: 114600
Target 3: 115132 (Neckline / Breakout Level)
Target 4: 116750
Target 5: 118850 (Fib Extension 161.8%)
Stoploss: 112117 (below handle low & EMA crossover zone)
🪙 Risk Management:
Trade only on breakout confirmation with volume. Maintain defined SL as price is near a historic resistance.
📌 Disclaimer:
This is a technical analysis based on historical chart behavior and is not financial advice. Please conduct your own due diligence. Trading involves risk.
❤️ If you found this helpful, don’t forget to like the post!
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.
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.