Hi Traders!
There has been a diamond pattern break on the Silver 1D chart, and there is potential for a re-test of the strong resistance level at 25.262.
Silver has been on a bull run since it found support near the long-term 22.117 level, and there was a momentum break to break and close outside the diamond pattern to complete the break.
We are now looking for further communication towards 25.262. If the market reaches this level, we expect strong resistance here again, as the market has not been above this level since May 2023, so there may be potential selling opportunities near this level.
We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates.
Thank you for your support.
BluetonaFX
There has been a diamond pattern break on the Silver 1D chart, and there is potential for a re-test of the strong resistance level at 25.262.
Silver has been on a bull run since it found support near the long-term 22.117 level, and there was a momentum break to break and close outside the diamond pattern to complete the break.
We are now looking for further communication towards 25.262. If the market reaches this level, we expect strong resistance here again, as the market has not been above this level since May 2023, so there may be potential selling opportunities near this level.
We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates.
Thank you for your support.
BluetonaFX