Watch for breakdown on Silver - 1H close below trendline
Expectations :
1. Looking for similar action to the one posted here: www.tradingview.com/...JiL0-Short-on-break/
2. Whereby - weakness on this current bounce and a pullback or a small ranging action (on lower time frame) around 22.75 -22.85 zone or below
Price targets :
22.15/20 - previous low on the 1H candle 16:00 UTC on 22/1
22.00 - next support level from 6-7 Jan lows
21.45/50 - below that is a 2 times low on 1H candle on 29/9 and 15/12
However should 1H close above previous high of 23.06 this MIGHT be invalidated, will update accordingly
*Prices and trendline drawn based on Silver Continuous Futures listed as on COMEX, prices may differ from your broker especially if you are trading CFDs or other forms derivative
**All timing based on UTC+0
Expectations :
1. Looking for similar action to the one posted here: www.tradingview.com/...JiL0-Short-on-break/
2. Whereby - weakness on this current bounce and a pullback or a small ranging action (on lower time frame) around 22.75 -22.85 zone or below
Price targets :
22.15/20 - previous low on the 1H candle 16:00 UTC on 22/1
22.00 - next support level from 6-7 Jan lows
21.45/50 - below that is a 2 times low on 1H candle on 29/9 and 15/12
However should 1H close above previous high of 23.06 this MIGHT be invalidated, will update accordingly
*Prices and trendline drawn based on Silver Continuous Futures listed as on COMEX, prices may differ from your broker especially if you are trading CFDs or other forms derivative
**All timing based on UTC+0
Comment:
As of now per oscillators on the 4H it looks like there's room for more upside
Trade closed: target reached:
primary target hit, quick bounce though