marketdetective

marketdetective

Silver is currently supported by the trend line formed since February 27th (denoted by the red upper trend line), while simultaneously facing resistance at the upper boundary of the channel that has been forming since September 2022 (represented by the green color channel). although the head and shoulders pattern (denoted by red circle) remains intact following...

marketdetective

As mentioned earlier on 30th may silver seems to be signaling a reversal on the 4-hour chart. It's showing a double top pattern first and now formed a head and shoulders pattern, both typical signs of a potential turnaround, which often indicate a shift in momentum. Watch closely the key level of 90,000 again. If silver falls below this level, it could find...

marketdetective Updated 

Update :- Following the upper range breakout, silver met resistance between 95,000-96,500 zone. Examining the 4-hour timeframe reveals a trendline originating on May 24th. Yesterday, May 29th, this trendline was breached, hinting at a double top (M) reversal pattern. Confirmation of this pattern awaits at the 90,000 level If this level breached, a subsequent...

marketdetective

update:- keep eye on short time frame. as reversal pattern (M) been completed now the point is, is it sustain here or else range bound from here.

marketdetective

Since 2016, silver has adhered to a technical trend. Upon closer examination of the current trend, you'll notice the formation of another channel. Presently, it's attempting to breach the upper channel. This is a crucial range; it may breach and make new highs or remain within the existing channel, with a likely approach towards its third bottom, approximately...