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


Type: Bearish DipKey Levels:Resistance: 25.065Pivot: 24.8Support: 24.230Preferred Case:Prices are consolidating in a triangle pattern . We see the potential for a dip from our Pivot at 24.8 in line with 78.6% Fibonacci Projection towards our 1st support at 24.230 in line with 61.8% Fibonacci Projection . RSI is at levels where dips previously occurred and prices are trading below our Ichimoku clouds , further supporting our bearish bias.Alternative Scenario:If prices were to continue their rally, they can potentially reach our 1st resistance at 25.065 which is in line with 127.2% 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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