SILVER, Continuation Ahead When Formation Completed!
Hello Traders Investors And Community,
Welcome to this analysis where we are looking at SILVER 4-hour timeframe perspective which is sending some high interesting signs at the moment since it formed some smaller up moves after its heavy decline to the downside, we should not ignore the established bearishness currently as there is still a good possibility given for further increase to the downside as I detected some important signals we should consider in the current situation showing SILVER outcomes in the next times.
Looking at my chart you can watch that SIVLER is moving in a uptrend channel which is actually a possible bear-flag-formation marked in black, the rallies SILVER is providing here arent strong and followed pull-backs together forming a wave-count which will finally end with the last leg to the upside and the wave e of the overall wave-count, furthermore you can watch there the short-entry-zone marked in the red resistance between the 28.9 and 29.4 level where SILVER not only has resistance from previous price action but also coherently ends up with the upper boundary of the possible bear-flag therefore a pull-back in this range is highly possible which will firstly move to the lower boundary and 50-EMA marked in green when this level does not hold and SILVER closes below it the bear-flag is finally confirmed and more downside will come with an increased pace, there is a possibility given that SIVLER invalidates this but it is currently quite marginal as the bearish signs are strong the continuation to the downside can be taken into consideration.
Similarly to GOLD the precious metal SILVER is also in a more bearish state where it is forming a smaller uptrend but which is weak and setting up for more to come, when it shows up with the more possible bearish scenario it has to be elevated what will happen after the final breakout and if there can be any stabilization in the range or SILVER moves on to continue with its established bearishness.
In this manner, thank you for watching, support for more market insight, all the best!
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis where we are looking at SILVER 4-hour timeframe perspective which is sending some high interesting signs at the moment since it formed some smaller up moves after its heavy decline to the downside, we should not ignore the established bearishness currently as there is still a good possibility given for further increase to the downside as I detected some important signals we should consider in the current situation showing SILVER outcomes in the next times.
Looking at my chart you can watch that SIVLER is moving in a uptrend channel which is actually a possible bear-flag-formation marked in black, the rallies SILVER is providing here arent strong and followed pull-backs together forming a wave-count which will finally end with the last leg to the upside and the wave e of the overall wave-count, furthermore you can watch there the short-entry-zone marked in the red resistance between the 28.9 and 29.4 level where SILVER not only has resistance from previous price action but also coherently ends up with the upper boundary of the possible bear-flag therefore a pull-back in this range is highly possible which will firstly move to the lower boundary and 50-EMA marked in green when this level does not hold and SILVER closes below it the bear-flag is finally confirmed and more downside will come with an increased pace, there is a possibility given that SIVLER invalidates this but it is currently quite marginal as the bearish signs are strong the continuation to the downside can be taken into consideration.
Similarly to GOLD the precious metal SILVER is also in a more bearish state where it is forming a smaller uptrend but which is weak and setting up for more to come, when it shows up with the more possible bearish scenario it has to be elevated what will happen after the final breakout and if there can be any stabilization in the range or SILVER moves on to continue with its established bearishness.
In this manner, thank you for watching, support for more market insight, all the best!
Information provided is only educational and should not be used to take action in the market.
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SILVER after approaching the upper resistances pulled back heavily bearish and accelerated the bearish price action into the lower levels continuing bearish momentum.