Thread: Silver
in the h1 time frame the pair is over bought and it will also try to move down. but if the price is break the resistance at 31.90 then we can long this pair with the target 32.06 but the major we can see down movement we can make our entry if the price close the below 31.60 and can hold our short position to support level at 31.36
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7th Feb - Trade plan
Buy Gold - 1673 , TP - 1685
Buy Silver - 31.70, TP - 32.20
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The forecast for Wednesday at Silver based on technical analysis. Silver still be below the trend line resistance and strength to leap above are not observed. The forecast for today expect continuation of price movement in a narrow sideways range, followed by the reduction of silver to the level of 31.50.
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Spoiler:
On the hourly chart, price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
50 RSI line cross above the 50 area, indicates the trend is still up
Recommendation: BUY
Take profitt: 32.56
Stop Loss :31.35
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the price is moving the the triangle pattern in h1 time frame. higher side it is not able to break the resistance level 32.06 and lower side it is also have a support at 31.35 so now we can short this pair and can hold to the support 31.50
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The position of the current price is above 50 EMA on the hourly chart, momentum is bullish
The position of the MACD cross the line above area 0, the momentum is bullish
Trend today: Bullish
Target today:33.,34
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Opened the purchase of silver as the price went up again to the horizontal strong level of 31.65 that is interesting, it also runs around and sloping level (medium-term trend), I do not think that the price will be able to overcome them, I think will retreat to the north all the more so for 31.65 really noticeable traces clearly buyer.
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according to h4 time frame we can see that price level 32.50 is strong resistance. once again price not able to break this level but lower side 30.84 is also good support. we must wait to break this support and resistance area.
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Silver stand Mountcef 2/1/2013
Drop the price of silver to break the barriers of 31.80 and 31.55 and now stands in the middle of the axial distance
between the level of 31.80 ad 30.70 which compels us to stop on the fence temporarily
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Silver, given its yesterday's strong decline in the direction of growth, it is not di looks and strengthen below the moving alligator said downward, but it is not enough to buy an additional signal-break zones of lower fractal 31.28-only opens the way to 31.00 and 30.80, the purchase we consider will only strengthen the above 31.47.
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