Analysis of Silver for July 24,.2023 – Potential for the drop
July 24, 2023 8:22 am
Technical analysis:
Silver has been trading downside this morning and I found breakout of the key support cluster at 24.60, which is good sign for the further downside movement.
Due to the breakout of the support cluster and the breakout of the rising trend-line in the background, I see potential for the further drop towards lower references.
Downside objectives are set at the price of 24.00 and 23.40
Bollinger bands started to expand, which is good sign that volatility is increasing and there is potential for the bigger move.
Resistance level is set at the price of 24.85
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
Silver
has been trading downside
this morning and I found breakout of the key support cluster at
24.60, which is good sign for the further downside movement.
Due
to the breakout of the support cluster and the breakout of the rising trend-line in the background, I see potential for the further drop
towards lower references.
Downside
objectives are set at the price of 24.00 and 23.40
Bollinger
bands started to expand, which is good sign that volatility is
increasing and there is potential for the bigger move.
Resistance
level is set at the price of 24.85
The material has been provided by InstaForex Company – www.instaforex.com
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