Hello Traders!
Today’s chart update will be on SILVER, which is approaching key resistance levels, that if broken, well change the overall market structure.
Points to consider,
- Trend considered bearish
- Structural Resistance being tested
- EMA’s support
- Stochastics in upper regions
- RSI currently overbought
Silver is considered to be in a bearish trend, it must break the lower high projection to change market structure, it has been putting in consecutive lower highs.
Structural resistance is being tested, very staunched level dating back to 2008, a break will be very volatile.
The EMA’s are currently support, must continue to hold Silver as it approaches key levels for a bullish bias.
Stochastics is currently in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI is currently in overbought regions, a return back to neutral territory is probable to cool of the RSI.
Overall, in my opinion, SILVER is at a very key level with resistance confluences. A break will change the overall market structure, it is however probable for Silver to have a slight retrace before making a bullish attempt.
What are your thoughts?
Please leave a like and comment,
And Remember,
“Markets are never wrong, but opinions often are.”
Today’s chart update will be on SILVER, which is approaching key resistance levels, that if broken, well change the overall market structure.
Points to consider,
- Trend considered bearish
- Structural Resistance being tested
- EMA’s support
- Stochastics in upper regions
- RSI currently overbought
Silver is considered to be in a bearish trend, it must break the lower high projection to change market structure, it has been putting in consecutive lower highs.
Structural resistance is being tested, very staunched level dating back to 2008, a break will be very volatile.
The EMA’s are currently support, must continue to hold Silver as it approaches key levels for a bullish bias.
Stochastics is currently in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside. The RSI is currently in overbought regions, a return back to neutral territory is probable to cool of the RSI.
Overall, in my opinion, SILVER is at a very key level with resistance confluences. A break will change the overall market structure, it is however probable for Silver to have a slight retrace before making a bullish attempt.
What are your thoughts?
Please leave a like and comment,
And Remember,
“Markets are never wrong, but opinions often are.”
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。