By analyzing the 4H chart of Silver we can see that after CPI news dropped, it surged in price, reaching the Supply Zone but then it was rejected by it and is now being traded at around 66.00, below the Supply Zone.
Now considering all the geopolitical events taking place right now, with an stoppage on war and positive news regarding negotiations, I expect further rise for Silver, breaking above the Supply Zone and then go for the Major BuySide Liquidity pool above the 67.15 level and sweep the liquidity there. Then afterwards, if it stabilizes above the Supply Zone, we could see a move towards the 4H FVG Low at 69.92 level.
However, if Silver fails at retesting the Supply Zone again, it could drop to the FVG High at 65.31 level, and in order to go back up, it must stabilize above the FVG C.E. at 64.80. If it breaks down, then the next target will be at 62.99 level to sweep the minor sellside liquidity there.
Now considering all the geopolitical events taking place right now, with an stoppage on war and positive news regarding negotiations, I expect further rise for Silver, breaking above the Supply Zone and then go for the Major BuySide Liquidity pool above the 67.15 level and sweep the liquidity there. Then afterwards, if it stabilizes above the Supply Zone, we could see a move towards the 4H FVG Low at 69.92 level.
However, if Silver fails at retesting the Supply Zone again, it could drop to the FVG High at 65.31 level, and in order to go back up, it must stabilize above the FVG C.E. at 64.80. If it breaks down, then the next target will be at 62.99 level to sweep the minor sellside liquidity there.
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Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.