Type: Bearish DipKey Levels:Resistance: 25.585Pivot: 25.345Support: 24.860Preferred Case:Prices are consolidating in triangular pattern. We see the potential for a dip from our Pivot at 25.345 in line with 100% Fibonacci Projection towards our 1st support at 24.860 in line with 78.6% Fibonacci retracement. Our bearish bias is support by prices trading under the Ichimoku cloud resistance.Alternative Scenario:If prices were to climb, they can potentially reach our 1st resistance at 25.585 in line with 100% Fibonacci projection.Fundamentals: With inflation still being an issue in the west and stalemate circumstances in the Russo-Ukraine crisis, we might still expect bullish upside on the commodity.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/silver-futures-si1-h4-potential-for-dip"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.