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...
Looking At The Current Market Condition There High Chances Of People Moving Money To Safe Heavens, Also Considering Upcoming Festive Season
Just For Education Purpose And Not A Recommendation, Please Do Your Own Research Before Investing
Technical Analysis on Silver : -
As discussed in the last week, silver is in bullish channel. A Bullish Channel is a technical chart pattern that represents an upward price trend with clear boundaries or channel lines.
As clear shown in the attached chart price is moving in upward direction with clear channel lines.
Follow the attached charts for more analysis.
HI All - good opportunity to go long for Silver/ Silver Micro for Swing trade.
Timeframe - 1h
Key Highlights:
1. Bouncing off with good volume
2. Good relative strength
3. Good risk and reward
In the coming days, Silver Mini is anticipated to experience a downtrend. This means that the price of Silver Mini is likely to decrease. There could be several factors contributing to this expectation, such as economic conditions, supply and demand dynamics, or market sentiment.
The triangle pattern observed in Silver Mini/Silver signals market uncertainty and suggests a potential significant price breakout, either upwards or downwards.
We expect this breakdown in the coming days till then it will consolidate.
Stay tuned for the levels, which I will share shortly.
