SILVER 4H : still support further decline
SILVER
New forecast
The price of silver rose yesterday and achieved immediate gains to test the 22.73 level, and we notice that the price bounced down from there in an attempt to resume the expected downward trend in the immediate term, waiting to test the 22.50 level initially, remembering that breaking this level will push the price directly to 22.23.
Therefore the downtrend scenario will be remain valid and effective for the coming period supported by moving average 50 that is continue to support the price to drop , taking into account that stabilized above 23.00 level will end the downtrend .
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 22.73 , 23.00
support line : 22.50 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of silver rose yesterday and achieved immediate gains to test the 22.73 level, and we notice that the price bounced down from there in an attempt to resume the expected downward trend in the immediate term, waiting to test the 22.50 level initially, remembering that breaking this level will push the price directly to 22.23.
Therefore the downtrend scenario will be remain valid and effective for the coming period supported by moving average 50 that is continue to support the price to drop , taking into account that stabilized above 23.00 level will end the downtrend .
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 22.73 , 23.00
support line : 22.50 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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.