SILVER POTENTIAL BOUNCE PLAY BUY OPPORTUNITY
Updated
Hey everyone hope you are having an amazing day! I just wanted to come make another post here on this Thanksgiving week here in the States and give some insight to what I see for the commodity Silver! Hope this brings some value and you guys can pull some nuggets from this! Cheers
OK so here is a breakdown based on each timeframe for what I am seeing!!
1W (Weekly) Timeframe:
**price is overall bullish
**price is coming back to a previous area of demand (buyers)
**weekly fib retracement confluence with level
1D (Daily) Timeframe:
**price is coming to previous demand around $29 per ounce
**will be at a extreme discount zone (relevant to current market trend)
**may be in oversold conditions on the RSI tool
4H (Hourly) Timeframe:
**waiting to watch how price momentum from sellers is coming into zone
**waiting for lower timeframe confluence
Hope you guys enjoy this post please boost and follow the page for more analysis and potential setups! Cheers!
OK so here is a breakdown based on each timeframe for what I am seeing!!
1W (Weekly) Timeframe:
**price is overall bullish
**price is coming back to a previous area of demand (buyers)
**weekly fib retracement confluence with level
1D (Daily) Timeframe:
**price is coming to previous demand around $29 per ounce
**will be at a extreme discount zone (relevant to current market trend)
**may be in oversold conditions on the RSI tool
4H (Hourly) Timeframe:
**waiting to watch how price momentum from sellers is coming into zone
**waiting for lower timeframe confluence
Hope you guys enjoy this post please boost and follow the page for more analysis and potential setups! Cheers!
Trade active
Silver reacting well from demand zoneTrade closed: target reached
Hitting TP1 area...has moved from 28-30 per ounce from demand zone..nice move! More potential upside to go as well
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