Silver Futures (SI1!) H4 | Bullish Reversal off Overlap Support
Type:
Bullish Reversal
Key Levels:
Resistance: 32.14
Pivot: 30.77
Support: 29.89
Preferred Case:
Looking at the H4 chart, the price is approaching the pivot and it could potentially make a bullish reversal off this level to rise towards the 1st Resistance at 32.14.
Alternative Scenario:
Price may break under the Pivot at 30.77 and fall towards the 1st Support at 29.89.
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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.