Silver is trading above the former resistance zone of 32.65–32.80. As long as the price remains above this area, I will be considering only long positions.
Overall, I expect the upward movement to continue. The chart structure is very harmonious, with strong buying from the lows, a supportive broader market sentiment for commodities, and a clear uptrend on higher timeframes.
Overall, I expect the upward movement to continue. The chart structure is very harmonious, with strong buying from the lows, a supportive broader market sentiment for commodities, and a clear uptrend on higher timeframes.
Trade active
I'm entering a long position at the current price level. The Stop Loss is set just below today's low.
Note
Silver is trading very weakly.I was thinking of closing the position, but it's being bought up confidently from the lows, so I'm just placing a stop below today's low.
Trade closed: stop reached
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.