Articles


  • SILVER - Weekly Report



    By icn.com

    Short Term trend: Bullish
    Intraday Bias: Neutral

    Silver settles back above 23.65 horizontal resistance, but fails so far to break above the descending resistance for the recent bearish correctional wave, we will wait for a break above this resistance which may confirm a move higher for this week and a retest of the previous highs, as the overall bullish wave that started from 18.00 area remains intact. On the other hand, a break back below 23.05 will be the first reversal signal, and will start to damage the bullish wave.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 23.60 23.05 22.85 22.45 22.30
    Resistance 24.00 24.40 24.85 25.00 25.25
    Recommendation Neutral


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