Good about silver this time is that it is just following gold and this time again it recovered wintessing good buying below 28 level. so no worry until 27.50 is hold.
Thread: Silver
Good about silver this time is that it is just following gold and this time again it recovered wintessing good buying below 28 level. so no worry until 27.50 is hold.
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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.
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
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28 Level is working as good support level and even at those times silver went below 28 in panic there was good value buying witnessed, currently level has become attactive for long term investors and we may stay long with stop loss of 2750 breaking which further panic may be witnessed.
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We can see in H1 chart of Silver. The price is above the Ichimoku Kumo Cloud and crossed the EMA 200. This is a confirmation for the uptrend. So, I think the price will continue to be up.
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we can see that today silver move with good range, after several days it moved down for 1.40 points and now we can see that it will move up, but i still doubt for it because suddenly it can move with fast too
do the best we can
zainm6050 (2019-06-09)
The upside move is clear now, while the metal might form the double bottom pattern, supported by 88.6% Fibonacci correction as shown above at 27.45. Consolidation above this level suggests more bullishness today , but stability above 28.60 is required as a start and then a breach of 29.05.
Recommendation : Based on the charts and explanations above, our opinion is buying silver around 28.05 and taking profit in stages at 28.60, 29.30 and 29.90 and stop loss below 27.10 might be appropriate
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.
zainm6050 (2019-06-09)
4 hours time frame is strongly bearish ,but the price has reached to andrews pitchfork mid-line and has reacted to it ,by the way if price will pass this line finally there is a strong support on its way ,which is 26.10-26.20 area.
What wins cool headed and ability to change as fast as the market changes
zainm6050 (2019-06-09)
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In asian market session silver move in range 27.94-27.67 after retraced up from lowest price in american session yesterday. It estimated that price can go up more to 28.09 as monthly support 2 level then up to 28.17-28.34 area that is overbought area mbfx indicator.in stochastic indicator seen that signal in all tf going up to overbought area that confirmed price may go up but limited.
zainm6050 (2019-06-09)
Silver is moving higher for now and it did not change the classic signals and accordingly we hold onto our negative expectations for the metal . Trading within the descending channel and stability below 28.50 make us expect new attempts to the downside.
Recommendation : Based on the charts and explanations above our opinion is selling silver around 27.80 and take profit in stages at 26.65 then 26.05; stop loss above 29.30 might be appropriate today
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.
zainm6050 (2019-06-09)
i don't use silver.so i'm sorry to say anything.tnx.
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.
zainm6050 (2019-06-09)
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