- Silver has been suffering for a while, correcting in it's Price Action.
Uptrending from August 2022, it has done printing a Bullish EMA's Crossovers of Mini(20&50EMA) and Major 50&200 EMA; post trendline resistance break-out and re-testing it as successful support before aiming higher
Currently it has found a small support base stuck between 20 & 50 EMA on the Weekly, while worth noting is that it has lost the Golden Zone of Trend Fibbonnaci Retracement taken from the Lows of August 2022 .
Lower supports on *W is 200EMA and just below it a big Order Block found in 8Hrs (tf). A negative downtrend would be established by losing grip of that 200EMA and 8hrs OB, as well the loss of 0 fibb retracement at 19.85$ as a Change of Character
Important Candlestick being printed this Week (2 days; 4hr to close)
TRADE SAFE !
*** Note that this is not Financial Advice ! Please do your own research and consult your own Financial Advisor before participating on any kind of trading acitivity based alone in this idea.
Comment
Weekly Close above 0.5 Trend Fibb' Retracement on Silver
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