The increase in SILVER price has halted after reaching a significant weekly resistance level.
On a 4-hour timeframe, there is a narrow horizontal range forming along with a rising channel, with the market already breaking the support line of the channel.
The last obstacle for sellers is the support within the horizontal range at 32.42 - 32.23 on the 4-hour chart. A break and close below this level would indicate a strong bearish signal.
There is a possibility of a retracement from this pattern, potentially reaching down to 31.44.
However, if the price breaks above the resistance of the range, we may consider looking for long positions.
On a 4-hour timeframe, there is a narrow horizontal range forming along with a rising channel, with the market already breaking the support line of the channel.
The last obstacle for sellers is the support within the horizontal range at 32.42 - 32.23 on the 4-hour chart. A break and close below this level would indicate a strong bearish signal.
There is a possibility of a retracement from this pattern, potentially reaching down to 31.44.
However, if the price breaks above the resistance of the range, we may consider looking for long positions.
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Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.