Hi Traders!
SILVER is approaching the trendline support of its symmetrical triangle and there is a possibility of a breakout to the downside.
Price Action 📊
There was a momentum break and close below the 20 EMA along with market swings showing lower highs and lower lows.
We are looking for a break and close below the trendline support.
Fundamental Analysis 📰
The market's demand for Silver is currently low due to current high demand for the US dollar.
Support 📉
22.232: TRENDLINE SUPPORT
Resistance 📈
22.868: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SILVER is approaching the trendline support of its symmetrical triangle and there is a possibility of a breakout to the downside.
Price Action 📊
There was a momentum break and close below the 20 EMA along with market swings showing lower highs and lower lows.
We are looking for a break and close below the trendline support.
Fundamental Analysis 📰
The market's demand for Silver is currently low due to current high demand for the US dollar.
Support 📉
22.232: TRENDLINE SUPPORT
Resistance 📈
22.868: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Note
Triangle break successful. Chart idea complete.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.