According to the attached H4 chart, the silver price remains stable above the previously breached bearish channel’s resistance, while it has difficulties with breaching the 14.85 barrier. It represents a good positive key that supports chances of continuing the bullish correction on the intraday and short-term basis, as the EMA50 meets the mentioned level to add more strength to it. Until now, the bullish trend scenario is still valid and active as long as the price is above the 14.65 level. Our main targets begin at 15.40 and extend to 15.85 followed by 16.30.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
According to the attached H4 chart, the silver price remains stable above the previously breached bearish channel’s resistance, while it has difficulties with breaching the 14.85 barrier. It represents a good positive key that supports chances of continuing the bullish correction on the intraday and short-term basis, as the EMA50 meets the mentioned level to add more strength to it. Until now, the bullish trend scenario is still valid and active as long as the price is above the 14.65 level. Our main targets begin at 15.40 and extend to 15.85 followed by 16.30.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: