SubscribeSilver has broken through again next level 31.90, the price continues to decline, the building below the 32.00 price figures give a good potential for further south, next strong support level of 30.35, and he shall be my goal.
Thread: Silver
Silver has broken through again next level 31.90, the price continues to decline, the building below the 32.00 price figures give a good potential for further south, next strong support level of 30.35, and he shall be my goal.
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Spoiler:
At the H4 chart, the price is below 12 EMA and 72 EMA indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Take profit: 30.30
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Market participants' attentions were focused on the Federal Reserve's meeting this week and its impact on foreign exchange markets and the financial sector. November futures price of silver on COMEX today rose to $ 32.4 per ounce.
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Elliott: zigzag or flat correction 32.70
It should test 33.09 area after which a sell off down to 31.95 or extended to 31.48 area is expected.
Technical points
Key point 32.7600
Entry point 32.2400
Elliott 31.7300
Closing 32.4200
Projection 32.7000
Trendline 32.3600
Trendline 31.9900
Supports / Resistances
Res 2 32.9200
Ex-High 32.4500
Res 1 32.6700
Pivot 32.2000
Sup 1 31.9500
Ex-Low 31.7300
Sup 2 31.4800
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Expected trading range for today is between: Support 31.50 Resistance 33.35
General tendency is expected for today: neutral
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The short term trend of the Silver is to the upside. Intraday trading range of the Silver is expected among key support at 31.00 and key resistance at 33.30. Based upon my chart analysis, I prefer to buying the silver around 31.80 with targets 32.50 then 33.30 and stoploss with four hour candle closing below 31.20.
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Silver technical analysis for 23.10.2012 by using : Auto pivot indicator.
resistance 3:33.38
resistance 2:32.91
resistance 1:32.66
pivot point :32.19
support 1:31.94
support 2:31.47
support 3:31.22
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At the H4 chart, the price is below 12 EMA and 72 EMA indicates the trend is still nturun
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Take profit: 31.00
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
The pair is still in the stage of the southern trend, today there was a small northern correction but bears again took up the price and above the resistance level of 32.30 (sliding alligator) is not allowed, there is the possibility of sales with little risk, the goal until -31.70.
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Intraday trading signal by ladyheart
pair : Xagusd / silver m15
analysis : Price may continue up to 32.377.
It's better to wait for the price to break up the upper triangle line,
since there's no clear or significance confirmation from cs signal.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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