TREND - POSITIVE
PRESENT ZONE- Inside SUPPLY ZONE 3
Trying to break Monthly downward TL & prev high,Yearly SUPPLY ZONE now.
FORECAST -As per ZONE
once crosses above these zones 24.745 possible then 25.1 next SUPPLY ZONE
MY TAKE-
Chances of reversing from 24.22 are there.so wait for retesting and break out above this level.
if not will come down again to 1...
Breaking Down Point: 76780
This could be a critical level in the silver market, possibly indicating a point where significant market action may occur.
Downside: 75290 - 75110
Suggests a potential downward movement, with a specified range of 75290 to 75110 as levels where sellers might be active or where the price may encounter support.
Invalidation: 77219
...
Silver is looking so bullish . Breakout after consolidation is forming in this chart . Reversal from Fib. zones with bullish market structure formation .Long trade can be plan for swing trade with given SL and Targets.
TREND - POSITIVE
But unable to break above weekly downward trend line.
PRESENT ZONE- At SUPPLY ZONE 3.Encountering yearly supply zone.
New 1 hour zone formed.
FORECAST -As per ZONE SUPPLY ZONE 3
If breaks above SUPPLY ZONE 3 will go to 25$.
if breaks below SUPPLY ZONE 3 will target below 1 hour demand zone/weekly zone.
MY TAKE
As lots of...
SILVER is at fib retracement zone (.5-.61) 69667-68707 and next important support is 66608
iF it show a bullish candle then we can add near this area ,otherwise 66608 is coming
Silver now at taking support at WEEKLY DEMAND ZONE & DAILY DEMAND ZONE.
TREND negative
Must cross PREV HIGH.IF sustains then only consider buy
many supply zones formed.
Only if war escalates chances for reversal
Silver MCX is in a downtrend and could be sold around 70,555. Targets are 68,750 and 67,500. Place a stop-loss above the recent swing high.
Please note that this is just a trading idea and not a financial recommendation. It is crucial to conduct your own research and consider your investment goals and risk tolerance before making any trading decisions.
the 3rd oct uptrend is more likely a pullback from the previous downtrend that we had analysed and played well
currently the price has reached to the fib golden zone of 0.6 and 0.7 and there is another confluence of previous rejection zone
price started making lower high and lower low
68000 - 67000 will be area of order blocks
lets wait for the price to...
