Silver

Daily market review for pair of: SILVER





Residence and supports
Resistance level 1: 14.789
Resistance level 2: 14.859
Resistance level 3: 14.972
Pivot point :14.677
Support level 1: 14.564
Support level 2: 14.494
Support level 3: 14.382

My recommendation for this pair is open sell
I analyses this trend after the great experience of trading. My experience is about 4 year of forex trading. I use moving average parabolic bar support and residence to understand the trend .my suggestion is not 100% correct because it is my experience only who I share with all of you. So good luck

I expect appreciation of the silver toward the resistance at 40.61. Stochastic left the overbought zone signaling for short, MACD does not give clear signal, MA20 and MA50 cross bullish. Overall, the indicators send contradictive signals.

elieve it or not, these intraday dips are opportunities to build long positions. Intermediary support remains at 30.60/70, followed by 30.20, while resistance is fixed at 33.60/70, followed by 34.30/40 and 35.10 respectively. It is recommended to hold long positions taken yesterday and look to add further longs on dips. It remains possible that another low might form around the 30.20/50 region before the next bull run begins. Trend moves upwards.through the last few days a number of very strong support levels among them 30.65, then could not resist, and mark in figure 30.00 (very strong), now the price is again left to the correct side and have that much experience on the strength but in as resistance 30.00 figure, not in a hurry to close the sale, I think after such a sharp decline and capacity below 30.00 will go even lower price, the goal of 29.50, 29.00.\\\\

\\Silver also fallen well to the south now the price is consolidating around 31.00 figures are already showing signs of the seller and the horizontal resistance around 31.20 (there was the formation of the top 2 of fractals, which are also significantly higher than the price of moving an alligator is not, at the break of 31.00 will be adding more pieces per sale .\\\

As long as price stays below ema 50, the trend will remain bearish trend
During the last MACD below the level 0, the trend will remain bearish trend
Trend: Bearish
Target: 28.29

The Head and Shoulders bottom we began to monitor at the start of the week continues to play out after prices took out the formation neckline at
39.82 yesterday. The setup s measured upside target stands at 43.64

As shown above on the 4-hour interval, we find the silver reversed to the downside, while the metal attempts to settle again below EMA 20, which weakens the formation of the double bottom pattern and strengthens the effect of the descending channel. RSI attempts to confirm the breach of the 50-point level. Therefore, we expect a downside movement during the rest of the session today, taking into consideration that a breach of 29.05 might significantly bring the positivity back.



Recommendation : Based on the charts and explanations above, our opinion is selling silver around 28.00 and taking profit in stages at 27.45, 27.20 and 26.15 and stop loss below 29.05 might be appropriate

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.



Recommendation : Based on the charts and explanations above, our opinion is selling silver around 28.00 and taking profit in stages at 27.45, 27.20 and 26.15 and stop loss below 29.05 might be appropriate

Daily analysis for Silver
Silver support in a triangle up 19.24, No Pivot Points have been reached.

Elliott 18.82
Closing 19.46
Ex-Low 18.93
Ex-High 19.69

Support 1 19.04
Support 2 18.61
Resistance 1 19.78
Resistance 2 20.12

From areas around 28.50, silver slumped heavily and currently around 88.6% correction shown above at 27.45. RSI is within oversold areas and the metal is now trading at the lower Bollinger band. Accordingly, we do not rule out heavy fluctuations for silver and a possible upside correction, yet stability below 27.45 will negate any upside attempts and the metal will resume the decline. Therefore, we remain neutral for now on silver as we maintain our general bearish bias and wait for confirmations for the next move.



Recommendation : Based on the charts and explanations above, we remain neutral awaiting more confirmations