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

36884 silver futures si1 h4 potential for dip

Type: Bearish DipKey Levels:Resistance: 25.005Pivot: 24.665Support: 24.050Preferred Case:Prices have broken our pivot. We see the potential for a dip from our Pivot at 24.665 in line with 50% Fibonacci Retracement towards our 1st support at 24.050 in line with 61.8% Fibonacci Projection . Our bearish bias is further supported by prices trading below our Ichimoku cloud resistance.Alternative Scenario:If prices were to continue their rally, they can potentially reach our 1st resistance at 25.005 which is an area of Fibonacci confluencesFundamentals: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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