Upon analyzing the chart, it is evident that silver has been trading within a parallel channel for almost a year, indicating a well-defined price range. In the previous trading session, the price of silver reached the resistance line of this channel. For short-term traders, a critical resistance level to watch is 74060. If this level is not surpassed convincingly,...
The resistance level at 67160 is a critical level for silver's trend, as it will determine whether the current uptrend will continue or a downtrend may be expected. If the price manages to break and sustain above the resistance level, it suggests a continuation of the uptrend, with potential upside targets at 68360 , 68760 , and even as high as 69300+...
Key level: 62110 On 6 June 2021, I had drawn a chart of silver ( ). Wherein, I've shown the silver can collapse up to 0.618 . It has made a low of 62184 and touched 0.618 levels of retracement. If MCX silver crossover and close below the level of 62110 , it will try to hit 60000 - 58900 - 57260 levels. Otherwise, it will take a bounce back from here...
Silver made a bullish Elliott wave. The fifth wave is including a diagonal. After the fifth wave, there is an ABC correction. Silver can move upside to 62840 - 63560 levels. Expected C range: 60565 - 59200 - 57045 The correction will over at 63560 to change the current trend. And upside rally will resume for the levels of 65000 - 66000 - 68000+ .
Here, In the beginning, the trend was incremental. But after making a sharp peak, it converted into the descending one. It started to increase by making arc-shaped strong support and fell from the peak. The trend made an ascending triangle between the support trendline and resistance trendline. If from the last candle of an ascending triangle, It moves in...
Silver Decisive Breakout! This chart doesn't require any description. Targets, stop loss, and entry-level already described on the chart. If you have any queries or concerns then ask me in the comment section.