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Silver Futures (SI1!), H1 Potential For Bounce!

36455 silver futures si1 h1 potential for bounce

Type: Bullish BounceKey Levels:Resistance: 25.8Pivot: 24.705Support: 24.110Preferred Case:Prices are approaching a pivot. We see the potential for a bounce from our Pivot at 24.705 in line with 100% Fibonacci Projection towards our 1st resistance at 25.8 in line with 78.6% Fibonacci Projection . Our bullish bias is further supported prices trading above our Ichimoku clouds .Alternative Scenario:If prices were to reverse, they can potentially reach our 1st support at 1924.705 in line with 200% Fibonacci Projection.Fundamentals:With gradual settlement of war-negotiations, we might expect a slight bearish turn towards the precious metal. As FA and TA are in conflict, we would advise investors to be prudent in trading the precious metal.

Source: Tickmill

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