SI1! ( Silver Futures ), H4 Potential for Bullish Continuation
Title: Silver Futures (SI1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 24.775
Pivot: 706.50
Support: 23.140
Preferred case: Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is.
Alternative scenario: Price may head back down towards the support at 23.140 where the 38.2% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 24.775
Pivot: 706.50
Support: 23.140
Preferred case: Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is.
Alternative scenario: Price may head back down towards the support at 23.140 where the 38.2% Fibonacci line is located.
Fundamentals: There are no major news.