Silver

A downward trend in H4 with confirmation of Stochastic which is in its selling area. Entry price:14.91 Take profit: 14.58 Stop loss: 15.10


1 Resistance level 15.036
2 Resistance level 15.069
3 Resistance level 15.082

1 Support level 14.985
2 Support level 14.939
3 Support level 14.857

Silver: still maintain the trend of shock finishing, has been in 19.9-19.4. The short-term resistance at 19.75 nearby. The short-term focus of line 4 hours for 4 hours, the RSI short term momentum indicators 拐头 upward, if can stand 19.5 may rise further
Days suggest investors interval concussion city operation.
Silver 19.9-19.4, a $0.2 stop loss.

For those looking to fade Yen-strength, GBP/JPY may be of interest. The pair is closing in on a big support level around 143.79. This is the 38.2% retracement of the 2016-2018 major move in the pair, and this same price has come-in as support on four separate occasions over the past few months. And, of note, there is remaining unfilled-gap here, approximately 225 pips higher on the chart.

Pivot (invalidation): 14.8000

Our preference
Long positions above 14.8000 with targets at 14.9700 & 15.0700 in extension.

Alternative scenario
Below 14.8000 look for further downside with 14.7300 & 14.6400 as targets.

Comment
The RSI is mixed to bullish.

The silver is trading in a very narrow range below 30.00 level but the bearish scenario remains intact for the whole day if the Silver pullback upside than there is another opportunity to sell the Silver. According to my chart analysis, I prefer to selling the Silver around 30.50, with targets 29.75, 29.00 then 28.10 and stoploss is above 31.25

XAGUSD movement is still in Bearish bias, seen from the H1 chart there is a rising wedge pattern. Today's trading strategy wait for Support in the range of 16.753 breaks to find confirmation of Sell signal with potential price down to the range 16.691 - 16.590. As an alternative consider the resistance at 16.916 to find confirmation of Sell signal with potential price back down to the range 16,763. However beware if it turns Resistance at 16.916 breaks as it could potentially turn the intraday bias into Bullish and lift XAGUSD further up to the range 17.017 - 17.118.

Silver

S3: 14.8
S2: 14.82
S1: 14.83

PP: 14.85

R1: 14.86
R2: 14.87
R3: 14.89

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Silver responded to the main resistance of the symmetrical triangle formation, while consolidation below 28.60 and 29.05 drives us to hold onto our morning expectations as they are . But we signal that a breach of 29.05 might complete a bullish technical structure and trigger a strong bullish wave.