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Silver Futures ( SI1! ), H4 Potential For Bounce!

37211 silver futures si1 h4 potential for bounce

Type: Bullish BounceKey Levels:Resistance: 25.105Pivot: 24.850Support: 24.795Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 24.850 which is a graphical overlap towards our 1st resistance at 25.105 in line with 100% Fibonacci Projection . Prices are trading above our ichimoku clouds , further supporting our bullish bias.Alternative Scenario:If prices were to continue their dip, they can potentially reach our 1st support at 24.795 which is in line with 61.8% Fibonacci Projection .Fundamentals:With inflation and war tensions might result in a fundamentally upwards bias on the pair. 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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