Technical Analysis of Daily Price Movement Silver Commodity Asset, Wednesday August 30 2023.
August 30, 2023 5:23 am
From the daily chart of silver commodity assets, we can find a deviation between the CCI Histogram indicator where the price of Silver forms a Double Bottom pattern which also happens to be currently in the midst of the Mercury Retrograde phenomenon so that upward pressure is quite significant on this commodity asset which is also currently moving. inside the Bullish Pitchfork channel and above WMA (20) so that in the next few days Silver will head to the level of 25,215 if the momentum and volatility are sufficiently supportive and during its journey there is no downward correction that breaks below the 23,360 level, then it is very likely that Silver will continue strengthening up to level 25,986.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
From the daily chart of silver commodity assets, we can find a deviation between the CCI Histogram indicator where the price of Silver forms a Double Bottom pattern which also happens to be currently in the midst of the Mercury Retrograde phenomenon so that upward pressure is quite significant on this commodity asset which is also currently moving. inside the Bullish Pitchfork channel and above WMA (20) so that in the next few days Silver will head to the level of 25,215 if the momentum and volatility are sufficiently supportive and during its journey there is no downward correction that breaks below the 23,360 level, then it is very likely that Silver will continue strengthening up to level 25,986.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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