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norok
Jun 16, 2022 11:37 AM

Silver About To Break Support Short

Silver FuturesCOMEX

Description

Silver futures COMEX:SI1! are right now holding a key Retracement level that aligns with the 2016 Major High around 21.00. This represents price holding support after failing many attempts to reach and break the highs around 30.00. Failing to hold and breaking this support would likely continue the bearish trend down into the teens prices below 19.90. Given that the last attempt to reach 30.00 fell short I put the probability high that such a Support break is coming.
Comments
Vibranium_Capital
did you consider potential news?
norok
@Vibranium_Capital, I usually do not consider news. I find often that technicals tell the story BEFORE news comes to confirm.
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