chileshe3M

chileshe3M

Silver has formed a hanging man on the H4 at a lower low after multiple rejections of a recent strong resistance zone for a possible move down to the 22.0 price area. This is supported by the overall downtrend that silver has been in.

chileshe3M

For this week, I am anticipating a retracement on silver to around the 38.2/50% fibonacci levels before seeing a push upwards around midweek.

chileshe3M

Based on recent market structure and current trend direction on the daily chart, I have good reason to believe that silver will make a push up to 27.00 in the short term.

chileshe3M

Despite the bearish break out of the neutral wedge, My view is that GBPJPY will continue to have bullish momentum.