In this latest upward cycle of the silver market, Fed interest rate moves are playing an oversized role in pumping up silver prices. In early July, as analysts factored in the rising potential for interest rate cuts in the remainder of 2024, silver prices were once again testing May's nearly 12-year high.
Silver is showing positive trend but not having strength, will have to have strength to move further, else 83000-87000 should be range for the time being. Only for education purpose
Silver is a Buy Buy Buy...
Silver Signals a buy on the Daily chart timeframe Indicators suggest that It's time to buy Silver the commodity which is considered to be the Priority investment option.
Hello & Welcome to this analysis
Silver has activated a Bullish Harmonic Gartley in daily time frame
MCX Silver due to budget day duty cut has seen the pattern gone invalid but appears likely to bounce back along with Comex Silver
Possible upside levels
Silver (Comex) 4hr close above $27.10 opens for $28.65 / $ 29.40 / $30.40, SL would be today's low...
💚 silver broken the 86200 level, now this level act as a resistance.
💚 Further there is support area near 78100
Price is also coming to trendline support+horizontal line support.
What a fall in silver....
With unprecedented move in silver last couple of days saw a very good profit booking.
Now at TL Supp...
Trading channel Marked.
Imp Reversal Marked..
Every Bounce is a SELL.
Happy Trading
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Above chart of SILVER is self explanatory....
heading towards pivot... need to see what happens
If it breaks both over head resistances, then 35$ is Target.
Positives
SILVER chart in 4hr looks good for me.
It is near Trendline support and also Monthly breakout retest zone.
More chances it goes up as per chart and Target may be 30-32$.
Negitives
If it breaks down, next support is 26$.
Silver could test below support red line and from 28 it could bounce 📈 📈 to 31 within 20th June
Closing above 31 in Weekly is bullish 📈 📈 📈
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Support on 31.68 on 20th June will trigger price upwards to 43.35 within or on 20th Oct 2025 marked on the chart
31.68 ( 20th june 2024 )
43.35 ( 20th Oct 2025 )
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Silver looks good.
Silver Brokeout of Monthly Trendline and Horizontal Resitance also.
I will take more silver expecting 35$ and 50$ as Targets if it closes monthly above 30$.
Lets see and plan accordingly.
If it sustains above 27.67 or that line ( Red ) then it could pump to the line ( green) or to the price 31.75 marked on the chart
31.75 --- ( 24th June 2024 expected time )
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
just like gold silver gap up on 20th march the price is fading its buying momentum and with that bias im looking for sell on rise setup
which i think 75300 could be the short entry and sl will be 75500 with the target of 74300 and second target of 73600
conclusion the target area are possible area to boost the buying liquidity again there will be exiting the trade
if silver sustain above 70k or 70050 level for today's close = 1d candle
then it will news based just liquid sweep from rd number of 70k
the price will rush towards the upper liquidity lvl of 71250 and 72750
as of trade on long side keep stop loss of 70k or below and target mentioned i.e. 71250 and 72750
