Silver Futures (SI1!) H4 | Potential Bullish Bounce?
Type:
Bullish Bounce
Key Levels:
Resistance: 35.50
Pivot: 31.09
Support: 30.34
Preferred Case:
Looking at the H4 chart, the price has made a bullish reversal off a multi-swing-low support. The bullish momentum could cause the price to bounce towards the 1st Resistance at 32.50.
Alternative Scenario:
Price may break below the Pivot at 31.09 and fall towards the 1st Support at 30.34.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.