Silver has been a tough market to watch, offering little in the way of a pullback as it surged to fresh record highs. As impressive as the move has been, trends like this inevitably roll over at some point — and we may have just seen an important first step from bears.
Today’s bearish range is already around 8% and looks set to close with at least a bearish outside day, with the potential for a bearish engulfing candle.
The 1-hour chart shows a clean break of the bullish trendline. While prices are now curling higher after a period of consolidation, several resistance levels loom — including the monthly pivot point, the broken trendline, and the $90 handle.
Bears could look to fade rallies into these resistance zones, in anticipation of another leg lower.
Matt Simpson, Market Analyst at City Index
Today’s bearish range is already around 8% and looks set to close with at least a bearish outside day, with the potential for a bearish engulfing candle.
The 1-hour chart shows a clean break of the bullish trendline. While prices are now curling higher after a period of consolidation, several resistance levels loom — including the monthly pivot point, the broken trendline, and the $90 handle.
Bears could look to fade rallies into these resistance zones, in anticipation of another leg lower.
Matt Simpson, Market Analyst at City Index
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.