Type: Bullish BounceKey Levels:Resistance: 23.504 Pivot: 21.943Support: 20.413Preferred Case:On the H4, with price moving above the ichimoku cloud, it supports our bullish bias that price will rise form the pivot at 21.943 in line with the overlap support and 23.6% fibonacci retracement to the 1st resistance at 23.504 in with the 50% fibonacci retracement. Additionally, the presence of bullish pressure at current price on the MACD indicator further supports our bullish bias.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 20.413 at the swing low.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/silver-futures-h4-or-potential-bullish-continuation"
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