Silver Futures ( SI1! ), H4 Potential For Further Bullish


Type: Bullish BounceKey Levels:Resistance: 25.590Pivot: 25.125Support: 24.965Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 25.125 which is a graphical overlap and 38.2% Fibonacci retracement towards our 1st resistance at 25.590 and graphical swing high. 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 24.965 which is in line with 50% Fibonacci Retracement.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

Related Posts