I am taking an early long position on Silver as we are getting a trendline and 4 hourly resistance breakout.
Long from 22.79 or as close as possible.
Target 1 - 23.30 - Set stop loss to break even once T1 has been hit.
Target 2 - 24.05
Target 3 - 24.50
Extreme Target - 25.49
Stop loss - 21.80
H4 - Bearish trend pattern.
Lower lows.
Currently it looks like a pullback is happening.
Bearish hidden divergence.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
According to the given data, it seems that silver is currently positioned at the peak of a bearish channel and has encountered a decline trend line from October 2011. Moreover, it has already reacted to this trend line, and it is anticipated that it will undergo further decline.
Similarly, gold miners are facing a comparable situation with a similar percentage...
COMEX:SI1!
👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate.
👉 2. Price goes BELOW the selected range. below. Short positions to activate.
⚠️ Important Notes:
1. Follow your risk management rules.
2. Timeframes: up to H4
In this update we review the recent price action in the Gold futures contract and identify the next high probability trading opportunity and price objectives to target
✅TP - green lines
❌SL - red line
EP - start of yellow line
Original Analysis SILVER
Falling Wedge identified at 22-Apr-17:00 2022 GMT.
This pattern is still in the process of forming. Possible bullish price movement towards the resistance 2513.0000 within the next 2 days.
Support Levels
2404.9
Resistance Levels
2513.0
This does not constitute investment...
