Silver Futures ( SI1!), H4 Potential for Bullish Bounce

silver-futures-(-si1!),-h4-potential-for-bullish-bounce

Type: Bullish BounceKey Levels:Resistance: 23.870Pivot: 23.280Support: 22.875Preferred Case:Price is near to the key pivot level. We are expecting the price to potentially bounce off from our pivot level of 23.280 in line with 138.2% Fibonacci extension towards our 1st resistance level of 23.870 which is in line with 23.6% Fibonacci retracement.Alternative Scenario:Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 22.875 in line with 161.8% Fibonacci extension, 100% Fibonacci projection and -27.2% Fibonacci expansion.Fundamentals:No major news.

Source: Tickmill

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